A company is interested in estimating u, the mean number of days of sick leave taken by its employees. Their statistician randomly selects 15 personnel files and notes the number of sick days taken by each employee. The sample mean is 12.2 days, and the sample standard deviation is 10 days. Calculate the 95% confidence interval using the steps below.  a. Point of estimate of u  b. Standard error of u  c. Critical value  d. Margin of error  e. Confidence interval  f. Interpret the interval

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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.