A random sample of 40 customers has an average order size of $78.25, and a population standard deviation of $22.50. Not all samples of this size would give you the same sample average, so you'd like to construct an "interval estimate" to convey this uncertainty. What is a 99% confidence interval for this mean?   Group of answer choices a $76.80 - $79.70  b $69.09 - $87.41 c $20.29 - $136.21  d $71.13 - $85.37

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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.