A leading magazine (like Barron's) reported at one time that the average number of weeks an individual is unemployed is 40 weeks. Assume that for the population of all unemployed individuals the length of unemployment is normally distributed where the population mean length of unemployment is 40 weeks and that the population standard deviation is 6 weeks. Suppose you would like to select a random sample of 39 unemployed individuals for a follow-up study. Find the probability that a single randomly selected value is less than 39. P(X < 39) =  Find the probability that a sample of size n=39n=39 is randomly selected with a mean less than 39. P(M < 39) =  Enter your answers as numbers accurate to 4 decimal places.

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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.