a. Bay’s Theorem: A Construction Company finds that an experienced machine operator of its company (one or more years of experience) will produce a defective item 1.5% of the time. Operators with some experience (up to one year) will produce a 2.5% defective rate and new operators will produce a 5% defective rate. The company has 65% experienced employees, 25% with some experience and 10% new employees. Find the probability that   i.                  Experienced operator of a company produced a particular defective item. ii.                Operator with some experience of a company produced a particular defective item. iii.              New operator of a company produced a particular defective item.

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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.