The personnel department of Franklin National Life Insurance compiled the accompanying data regarding the income and education of its employees.   Income     $60,000 or Below     Income     Above $60,000     Noncollege Graduate     1990 880 College Graduate 430 700 Let A be the event that a randomly chosen employee has a college degree, and let B be the event that the chosen employee's income is more than $60,000. (a) Find each of the following probabilities. (Round your answers to four decimal places.) P(A) =  P(B) =  P(A  B) =  P(B | A) =  P(B | Ac) =

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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.