The monthly incomes for 12 randomly selected​ people, each with a​ bachelor's degree in​ economics, are shown on the right. Complete parts​ (a) through​ (c) below.   Assume the population is normally distributed. Construct a 90​% confidence interval for the population mean μ. 4450.55 4596.96 4366.79 4455.18 4151.81 3727.77 4283.39 4527.65 4407.92 3946.09 4023.56 4221.16

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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.