A marketing research analyst collects data for a random sample of 100 customers out of the 4,000 who purchased a particular “coupon special.” The 100 people spent a sample average of X ̅= $24.57 in the store with a standard deviation of σ=$6.60. Before seeing these sample results, the marketing manager had claimed that the average purchase by those responding to the coupon offer would be at least (not less than) $25.00. Can this claim be rejected, using the 5 percent level of significance?

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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.