The average outstanding bill for delinquent customer accounts for a national department store again is 187.50$ with a standard deviation of 44.50$. In a random sample of 50 delinquent accounts, what is the probability that the mean outstanding bill is over 200$. Assume bills are normally distributed. A. 0.3894 B. 0.0596 C. 0.9765 D. 0.0235

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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.