The average amount of money spent for lunch per person in the college cafeteria is $5.99 and the standard deviation is $2.1. Suppose that 49 randomly selected lunch patrons are observed. Assume the distribution of money spent is normal, and round all answers to 4 decimal places where possible. For the group of 49 patrons, find the probability that the average lunch cost is between $5.77 and $6.08

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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.