The local bakery bakes more than a thousand 1-pound loaves of bread daily, and the weights of these loaves varies. The mean weight is 0.9 lb. and 1 oz., or 437 grams. Assume the standard deviation of the weights is 21 grams and a sample of 45 loaves is to be randomly selected. (e) What is the probability that the sample mean will have a value less than 433? (Give your answer correct to four decimal places.) (f) What is the probability that the sample mean will be within 5 grams of the mean? (Give your answer correct to four decimal places.)

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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.