The mean annual income for people in a certain city (in thousands of dollars) is 40, with a standard deviation of 32. A pollster draws a sample of 38 people to interview. What is the probability that the sample mean income is less than 42 (thousands of dollars)? b) Use the normal approximation to the binomial to find that probability for the specific value of X. n = 30, p = 0.7, X = 20 Please answer all the parts 1a and 1b

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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.