he average amount of money that people spend at Don Mcalds fast food place is $7.2400 with a standard deviation of $1.8500. 43 customers are randomly selected. Please answer the following questions, and round all answers to 4 decimal places where possible and assume a normal distribution. What is the probability that one randomly selected customer will spend more than $7.4369?  For the 43 customers, find the probability that their average spent is less than $7.4369.  Find the probability that the randomly selected 43 customers will spend more than $319.7867.

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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.