View the Exhibit and examine the output of the query. What do you infer from this?

SGA_TARGET is a dynamic parameter with ISSYS_MODIFIABLE = IMMEDIATE, meaning it can be changed without restarting the instance; it is not a static parameter.

If the instance were started but the database not yet open (MOUNT state), the query against V$PARAMETER would still return results, but mount state is determined from V$INSTANCE or V$DATABASE, not from the SPFILE parameter value.

When the output of SHOW PARAMETER SPFILE or a query on V$PARAMETER displays a non-null, non-empty value for the spfile parameter, it definitively means the instance was started with an SPFILE. An SPFILE-started instance automatically persists changes made via ALTER SYSTEM to the binary parameter file, and the SPFILE path is visible in V$PARAMETER.

SGA_TARGET is fully effective when set; it controls Automatic Shared Memory Management (ASMM) by directing Oracle to automatically size SGA components within the SGA_MAX_SIZE boundary.