Kindly explain both. Explain  both parts in detail. thankyou George  finds  out the monthly prices  of random sample of 50 ( 2 bedroom row houses ) in New York  Kate calculates the  monthly rent prices  of random sample of 100 ( 2 bedroom row houses ) in New Jersey 1  whose data has higher mean  2  whose  data  has higher. Standard  devaiton

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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.