According to the National Association of Colleges and Employers, the average startingsalary for new college graduates in health sciences is $51,541. The average starting salary for new college graduates in business is $53,901 (National Association of Collegesand Employers website, January 5, 2015). Assume that starting salaries are normally distributed and that the standard deviation for starting salaries for new college graduates inhealth sciences is $11,000. Assume that the standard deviation for starting salaries for newcollege graduates in business is $15,000.a. what is the probability that a new college graduate in business will earn a startingsalary of at least $65,000?

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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.