In your biology class, your final grade is based on several things: a lab score, scores on two major tests, and your score on the final exam. There are 100 points available for each score. However, the lab score is worth 23% of your total grade, each major test is worth 21%, and the final exam is worth 35%. Compute the weighted average for the following scores: 95 on the lab, 67 on the first major test, 72 on the second major test, and 76 on the final exam.

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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.