The price of a one-way Amtrak train ticket between Washington and Boston was $64.00 in 2004. In 2020, that same ticket costs $129.00. A Greyhound Bus ticket between the same two cities cost $28.00 in 2004 and $45.00 in 2020.   2004 A 2020 B Amtrak $64.00 $129.00 Grey Hound  $22.00 $45.00 Which ticket has increased more in relative terms (%)? Show your calculations to back up your answer.   Adjusting for inflation, what is the percentage increase in the cost of the Amtrak ticket between 2004 and 2020?

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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.