Consider a population of 2000 people, 800 of whom are women. Assume that 300 of the women in this population earn at least $60,000 per year, and 200 of the men earn at least $60,000 per year.a. What is the probability that a randomly selected person from this population earns less than $60,000 per year?b. If a randomly selected person is observed to earn less than $60,000 per year, what is the probability that this person is a man? c. If a randomly selected person is observed to earn at least $60,000 per year, what is the probability that this person is a woman?

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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.