A real estate agent in a large city claims to sell 15% of their houses within two months of the original listing. A random sample of 75 listings is chosen, and 9 were sold within two months of the original listing. Let  = the proportion of houses in the random sample that were sold within two months. The probability of 12% or fewer of this real estate agent’s listings being sold within two months is 0.295. Does this result provide convincing evidence against the agent’s claim?  Yes, it is expected that at least 9 houses will be sold within two months. Yes, the probability of seeing the sample result is so far from what is expected that the probability of it occurring by chance alone is very unlikely. No, there is a very small chance of seeing the sample result. It is unlikely to occur by chance alone. No, the difference between the sample result and what is expected is not extreme enough. The probability of it occurring by chance alone is not unlikely.

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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.