A small ice cream parlor has had great success over the past several years and is interested in expanding into handmade chocolate candies. A poll of 56 randomly selected customers was asked if they would purchase these chocolate candies. Forty of the customers indicated that they would. Quld lokcustomers who would Ur man cturer. d. The ice cream parlor needs at least 85% of its customers to purchase handmade chocolate candies to make this expansion profitable. Does it appear as if the expansion into handmade chocolate candies will be profitable? 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.