A machine produces metal rods used in an automobile suspension system. A random sample of 15 rods is selected, and the diameter is measured. The resulting data (in millimetres) are as follows: 8.24 8.25 8.20 8.23 8.24 8.21 8.26 8.26 8.20 8.25 8.23 8.23 8.19 8.28 8.24   Construct a 95% confidence interval on variance rod diameter.   A. (0.0004;0.0015)   B. (0.0003;0.0016)   C. (0.00034;0.00159)   D. (0.0004;0.0016)

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Q: A machine produces metal rods used in an automobile suspension system. A random sample of 15 rods is…

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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.