Joan’s nursery specializes in custom-designed landscaping for residential areas.  The estimated labor cost associated with a particular landscaping proposal is based on the number of plantings of trees, shrubs, and so on to be used for the project.  For cost estimating purposes, managers use 2 hours of labor time for the planting of a medium sized tree.  Actual times from a sample of 10 plantings during the past month are: 1.9, 1.5, 2.6, 2.2, 2.4, 2.3, 2.6, 3, 1.4, and 2.1. With 5% level of significance, the goal is to test to see whether the mean tree planting time differs from 2 hrs.  What is the P-value associated with this test?

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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.