The Olsen Agricultural Company has determined that the weight of hay bales is normally distributed with a mean equal to 80 pounds and a standard deviation equal to 8 pounds. Based on this, what is the probability that the mean weight of the bales in a sample of n = 64 bales will be between 78 and 82 pounds? Note: Do not round up. Keep at least 4 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.