One of the leading dot-com companies has found that the proportion of customers who come into its website that actually makes a purchase is 0.045. The company plans to see whether this rate still holds by selecting a random sample of 200 hits on its Website. Given that the 0.045 rate still applies, what is the standard deviation of the sampling distribution?

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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.