A Food Marketing Institute found that 58% of households spend more than $125 a week on groceries. Assume the population proportion is 0.58 and a simple random sample of 146 households is selected from the population. What is the probability that the sample proportion of households spending more than $125 a week is more than than 0.48? Note: You should carefully round any z-values you calculate to 4 decimal places to match wamap's approach and calculations.

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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.