The monthly incomes for 12 randomly selected people, each with 4450.08 a bachelor's degree in economics, are shown on the right. Complete parts (a) through (c) below. 4596.51 4366.09 4455.18 4151.15 3727.26 4283.76 4527.13 4407.36 Assume the population is normally distributed. 3946.78 4023.08 4221.52 (a) Find the sample mean. x= (Round to one decimal place as needed.)

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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.