A company has a policy of retiring company cars.This policy looks at a number of miles driven, purpose of trips, style of car, and other features.  The distribution of the number of months in service for the fleet of cars is bell-shaped and has a mean of 53 months and a standard deviation of 8 months.  Using the 68-95-99.7 rule, what is the approximate percentage of cars that remain in service between 61 and 69 months?

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Q: A company has a policy of retiring company cars; this policy looks at number of miles driven,…

A:

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A:

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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.