A coin may be fair or it may have two heads. We toss it (n) times and it comes up heads on each occasion. If our initial judgment was that both options for the coin (fair or both sides heads) were equally likely (probable), what is our revised judgment in the light of the data?

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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.