Let X= the income of a random Canadian. Suppose you need to estimate Hx, the mean income of all Canadians. You select a simple random sample of n=500 Canadians and you determine the sample mean income X for this sample. What does it mean to say that the sampling distribution of X has mean Hx? The expected value of X is Hx. If the survey is repeated 30 or more times, the average value of X is Hx. If the survey is repeated 30 or more times, the average value of X is Hx. The expected value of X is Hx.

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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.