A company claims that only 4% of their products are defective. A random sample of 320 products is selected from a shipment of 8000 products and the proportion of defects is computed. Identify the correct symbols u, o, s, n, N, p, x (x-bar), p (p-hat) for the given information: ?= 4% Identify the correct symbols for the given information: ? = 320 Identify the correct symbols for the given information: 2 = 8000

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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.