A real estate sales agency, specializes in selling farm houses. Its records indicate that the mean selling time of farm property is 90 days. Because of recent economic conditions, the agency believes that the mean selling time is now greater than 90 days. A statewide survey of 100 recently sold farms revealed a mean selling time of 93 days, with a standard deviation of 20 days. At the .05 significance level, has there been an increase in selling time?

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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.