Consider the next 1000 80% CIs for µ that a statistical consultant will obtain for various clients. Suppose the data sets on which the intervals are based are selected independently of one another. How many of these 1000 intervals do you expect to capture the corresponding value of µ? intervals What is the probability that between 790 and 810 of these intervals contain the corresponding value of µ?

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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.