A auto maker is interested in information about how long transmissions last. A sample of transmissions are run constantly and the number of miles before the transmission fails is recorded. The auto maker claims that the transmissions can run constantly for over 150,000 miles before failure. The results of the sample are given below. Miles (1000s of miles) Mean 150.7 Variance 4.661 Observations 46 Hypothesized Mean 150 df 45 t Stat 2.185 p = Ex: 1.234 P(T<=t) one-tail 0.017 t Critical one-tail 1.679 -1 1 P(T<=t) two-tail 0.034 t Critical two-tail t : Ex: 1.234 2.014 %3D Confidence Level(95.09) 0.641

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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.