5. If we believe that the population is normally distributed, what is the probability that a randomly selected student will pay under $400 for textbooks in one semester? Mean is S450 and standard deviation is $40. Answer in a complete sentence in context. Work: P( probability statement function typed on calculator Inputs to the function answer

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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.