In a lake, Peter catches fishes in an average rate of 3 fishes per hour. (Assume Peter always catches one fish at a time and the events of catching each fish are independent.) (a) At 2:00PM, if it’s known that Peter caught the previous fish at 1:50PM, what is the probability that he will catch the next fish before 2:30PM? (b)Assume Peter starts catching fish at 9:00AM, what is the probability that he will catch the 2nd fish between 9:30 and 9:50AM?

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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.