According to one survey taken a few years ago, 32% of American households have attempted to reduce their long-distance phone bills by switching long-distance companies. Suppose that business researchers want to test to determine if this figure is still accurate today by taking a new survey of 95 American households who have tried to reduce their long-distance bills. Suppose further that of these 95 households, 24% say they have tried to reduce their bills by switching long-distance companies. Is this result enough evidence to state that a significantly different proportion of American households are trying to reduce long-distance bills by switching companies? Let α = .01. Appendix A Statistical Tables (Round your answer to 2 decimal places.) The value of the test statistic is enter the value of the test statistic and we choose between reject and fail to reject the null hypothesis                                                           .

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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.