Randomly selected students were given five seconds to estimate the value of a product of numbers with the results shown below. Estimates from students given 1×2×3×4×5×6×7×8: 800, 500, 842, 560, 25, 40320, 1110, 40320, 169, 600   Estimates from students given 8×7×6×5×4×3×2×1: 2000, 400, 500, 1500, 50000, 400, 350, 300, 52836, 3500 Use a 0.05 significance level to test the claim that the two populations have the same mean.   (a) The test statistic is

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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.