A market researcher wanted to evaluate the difference in credit charges for customers of Bracy’s. She randomly selected 100 customers and recorded their credit charges in December 2004 and January 2005. Is there evidence to show a difference in credit charges between the two months?Step 1:                              Step 2: α =Ho: H1:Step 3                               Step 4 Step 5                               Step 6 Difference: Dec. 2004 - Jan. 2005 Sample Diff: 280.74152 Std. Err: 99.50361 p-value: 0.0058

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Q: the

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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.