A leading magazine (like Barron's) reported at one time that the average number of weeks an individual is unemployed is 19 weeks. Assume that for the population of all unemployed individuals the population mean length of unemployment is 19 weeks and that the population standard deviation is 3.9 weeks. Suppose you would like to select a random sample of 69 unemployed individuals for a follow-up study. Find the probability that a single randomly selected value is greater than 18.9. P(X > 18.9) =   Find the probability that a sample of size n=69n=69 is randomly selected with a mean greater than 18.9. P(X̅ > 18.9) =

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Q: A leading magazine reported at one time that the average number of weeks an individual is unemployed…

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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.