r Swift is interested in learning what proportion of her fans want her to re-record her masters, so she takes a simple random sample of 500 fans and asks them.  Of the 500 fans, 487 of them (97.4%) respond that they want her to re-record all of her masters.  What is the parameter and what is its value?   a. The parameter is the average number of all Taylor Swift fans who want her to re-record her masters, which is unknown.   b. The parameter is the proportion of the sampled Taylor Swift fans who want her to re-record her masters, which is unknown.   c. The parameter is the group of the sampled Taylor Swift fans who want her to re-record her masters, which is 487.   d. The parameter is the proportion of the sampled Taylor Swift fans who want her to re-record her masters, which is 0.974.   e. The parameter is the proportion of all Taylor Swift fans who want her to re-record her masters, which is unknown.

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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.