A company is considering upgrading its computer system and has asked an engineer for an evaluation of the operating system.  After an initial evaluation by the engineer, he states the probability of getting a favorable evaluation now is 75%.  The company CEO states there is a 65% probability of upgrading now.  If the company gets a new system, there is a 95% probability of getting a favorable evaluation.  If the company upgrades its system now there is an 85% probability of getting a favorable evaluation.  If the company waits a year later without doing anything, there is a 55% probability of getting a favorable evaluation next year.  What is the probability the company will upgrade now and receive a favorable evaluation?

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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.