Dr. Deming’s Red Bead Experiment is an exercise in the laws of probability. The workers were frustrated because no matter what they did, the outcome was not predictable. If the paddle holds 50 beads and there are 500 white beads and 50 red beads in the box, what is the probability, using one sample, of filling a paddle with 47 white beads and only three red beads? Give your answer as a percentage and share how you arrived at your conclusion

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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.