For 300 trading​ days, the daily closing price of a stock​ (in $) is well modeled by a Normal model with a mean ​of $195.03and a standard deviation of $ 7.15. According to this​ model, what is the probability that on a randomly selected day in this period the stock price closed as follows? ​a) above $209.33​? ​b) below $202.18​? ​c) between $180.73 and​$209.33​? ​d) Which would be more​ unusual, a day on which the stock price closed above$210 or below $190​?

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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.