The following table is a partial probability distribution for the MRA Company's projected profits  (x = profit in $1,000s)  for the first year of operation (the negative value denotes a loss). x f(x) −100 0.10 0 0.25 50 0.30 100 0.20 150 0.10 200   (a) What is the proper value for  f(200)? f(200) =  What is your interpretation of this value? This is the  ---Select--- probability percent that the MRA will have a $200,000 profit. (b) What is the probability that MRA will be profitable?   (c) What is the probability that MRA will make at least $100,000?

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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.