The diameters of bolts produced by a certain machine are normally distributed with a mean of 0.30 inches and a standard deviation of 0.02 inches. Assume that you are in charge of inspecting the bolts coming off of this machine. (a) What is the probability that the diameter of one randomly selected bolt is greater than 0.31 inches? (b) As an inspector, would you report issues with quality control if you found one bolt which measured greater than 0.31 inches? Why or why not? (c) What is the probability that the mean diameter of 40 randomly selected bolts is greater than 0.31 inches? (d) As an inspector, would you report issues about quality control if your sample of 40 bolts had a mean diameter greater than 0.31 inches? Why or why not?

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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.