The average yearly Medicare Hospital Insurance benefit per person was $3560 in a recent year. If the benefits are normally distributed with a standard deviation of $460, and a random sample of 20 patients is taken. Find the probability that the sample mean of patients with benefits is less than $3600. Round to four decimal places. Show work.

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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.