A large retail company conducted a manual inspection of the price scanning at checkout.  In particular, they want to know if there is any relationship between scanning error rates and sale pricing practices.  Here are the data they obtained   Regular Price Advertised Sale Price Undercharged 17 5 Overcharged 10 23 Correct price 147 168 Test the claim at an α=0.01 significance level.   State the hypotheses (using statistical notation on your own papter, this is not submitted but good practice)   Fill in the expected values:   Regular Price Advertised Sale Price Undercharged     Overcharged     Correct price       Test statistic (round to two decimal digits):  χ2=   P-value for this test statistic (round to four decimal digits):  p=

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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.