The median annual income of subscribers to Shutterbug magazine is $75,000 (Home Theater website, August 18, 2008). A sample of 300 subscribers to Popular Photography & Imaging magazine found 165 subscribers with an annual income over $75,000 and 135 with an annual income under $75,000. Can you conclude that the median annual income of Popular Photography & Imaging subscribers differs from the median annual income of Shutterbug subscribers? Use α = 0.05

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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.