Generation Y has been defined as those individuals who were born between 1981 and 1991. A 2010 survey by a credit counseling foundation found that 59​% of the young adults in Generation Y pay their monthly bills on​ time) Suppose we take a random sample of 210 people from Generation Y. What is the probability that 130 or fewer will pay their monthly bills on​ time? Please show how to do using Excel

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Q: What is Probability Analysis?

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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.