A market research firm is investigating the appeal of three package designs. The table below gives information obtained through a sample of 200 consumers. The three package designs are labeled A, B, and C. The consumers are classified according to age and package design preference.   A   B   C   Total Under 25 years 22   34   40   96 25 or older 54   28   22   104 Total 76   62   62   200 If one of these consumers is randomly selected, what is the probability that the person prefers design A and is under 25? 0.54 0.11 0.78 0.18 0.22

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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.