1. A population has a mean of 75 and a standard deviation of 17.4. A sample of 35 items are randomly selected from this population. What is the probability that the mean of this sample lies between 72 and 79? 2. An electronic company in Laguna manufactures resistors that have a mean resistance of 120 ohms and a standard deviation of 13 ohms. Find the probability that a random sample of 40 resistors will have an average resistance greater than 114 ohms. 3. Suppose that the average outstanding credit card balance for young professionals is Php11,200 with a standard deviation of Php 2,600. In a simple random sample of 150 young professionals, what is the probability

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.