An ethanol railroad tariff is a fee charged for shipments of ethanol on public railroads. According to a trade publication, the mean tariff charged is $8.5 thousand with a standard deviation of 0.75. Determine the probability that, for a sample of size of n = 79 shipments, that the sample mean tariff charged will be (a) more than $8.6 thousand (express this answer using correct probability notation)

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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.