For a data set obtained from a random sample, n = 81 and x = 48.25. It is known that σ = 4.8. a. What is the point estimate of μ? b. Make a 95% confidence interval for μ. c. What is the margin of error of estimate for part b

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A: n=1225 Lower limit=1.006  Upper limit=1.194

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.