A fast food company is offering a prize promotion game. The company claims that in 0.5 % 0.5% of all orders will receive $ 100 $100 cash, 1 % 1% of all orders will receive $ 10 $10 cash, and 10 % 10% of orders will receive a coupon for a free soft drink. The remaining orders will receive no prizes. A group of long-time customers were excited about the new promotion, and over the course of the promotion, they placed 651 orders 651 orders. Of these orders, 2 2 ended up winning $ 100 $100, 6 6 won $ 10 $10, and 52 52 won a free soft drink. The group wants to do a chi-squared goo

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Q: A fast food company is offering a prize promotion game. The company claims that in 0.5 % of all…

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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.