Business Weekly conducted a survey of graduates from 30 top MBA programs. On the basis of the survey, assume the mean annual salary for graduates 10 years after graduation is 187000 dollars. Assume the standard deviation is 44000 dollars. Suppose you take a simple random sample of 65 graduates. Find the probability that a single randomly selected policy has a mean value between 165169.9 and 194094.8 dollars . P (165169.9 < X < 194094.8) = (Enter your answers as numbers accurate to 4 decimal places.) Find the probability that a random sample of size n = 65 has a mean value between 165169.9 and 194094.8 dollars. P(165169.9 < M < 194094.8) = Enter your answers as numbers accurate to 4 decimal places. )

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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.