Are parameters in strings.xml possible?

If you need two variables in the XML, you can use:

%1$d text... %2$d or %1$s text... %2$s for string variables.

Example :

strings.xml

<string name="notyet">Website %1$s isn\'t yet available, I\'m working on it, please wait %2$s more days</string>

activity.java

String site = "site.tld";
String days = "11";

//Toast example
String notyet = getString(R.string.notyet, site, days);
Toast.makeText(getApplicationContext(), notyet, Toast.LENGTH_LONG).show();

Yes, just format your strings in the standard String.format() way.

See the method Context.getString(int, Object...) and the Android or Java Formatter documentation.

In your case, the string definition would be:

<string name="timeFormat">%1$d minutes ago</string>