Data from the Statistical Abstract of the United States show that in 1995, there were 56.61 thousand performances in the United States by nonprofit professional theaters. From 1995 through 2007, this number increased on average by about 10% each year. (a) Let P denote the number of performances, in thousands, and let t denote the time in years since 1995. Make an exponential model for P versus t. P =        (b) How many performances by nonprofit professional theaters does your model give for 2007? (Round your answer to two decimal places.)  thousand

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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.