In a survey of 700 randomly selected consumers, 30 said they bought brand A cereal, 30 said they bought brand B, and 20 said they bought brand C. What is the empirical probability that a consumer will purchase the following? (Assume each person surveyed bought at most one of these brands of cereal.)   Enter the exact rational fraction, or decimal equivalent rounded to 6 decimal places.

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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.