3.2 7) In December​ 2018, the average price of regular unleaded gasoline excluding taxes in the United States was ​$3.06 per gallon. Assume that the standard deviation price per gallon is ​$0.07 per gallon and use​ Chebyshev's Inequality to answer the following.   ​(a) What minimum percentage of gasoline stations had prices within 3 standard deviations of the​ mean? ​(b) What minimum percentage of gasoline stations had prices within 2.5 standard deviations of the​ mean? What are the gasoline prices that are within 2.5 standard deviations of the​ mean? ​(c) What is the minimum percentage of gasoline stations that had prices between ​$2.78 and ​$3.34​?

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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.