BlueSky Air has the best on-time arrival rate with 76% of its flights arriving on time. A test is conducted by randomly selecting 15 BlueSky Air flights and observing whether they arrive on time. What is the probability that two flights of BlueSky Air arrive late? (Please carry answers to at least six decimal places in intermediate steps. Give your final answer to the nearest three decimal places). Probability (as a proportion)

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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.