A manufacturer claims that the replacement time for their CD players has a mean of 7 years and a standard deviation of 1.4 years. If this is true, find the probability that a) one randomly selected CD player is replaced in 6.2 years or less b) in a random sample of 30 CD players, the mean replacement time is 6.2 years or less c) In part b), are the assumptions of the Central Limit Theorem satisfied?  Explain

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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.