What is a parameter of interest?

One parameter of interest could be the average transaction value in a retail store. This metric provides valuable insight into the purchasing behavior of customers and can help businesses identify trends, make pricing decisions, and optimize their sales strategy. By analyzing the average transaction value over time, businesses can also track the effectiveness of promotions or product launches, and make adjustments to drive more revenue. Additionally, understanding the average transaction value can help businesses set sales targets, allocate resources effectively, and improve overall profitability.