If an exponential distribution has the rate parameter λ = 5, what is its expected value? Select one: a. 1/25 b. 5/2 c. 1/5 d. 5 Find the z value such that P(Z ≤ z) = 0.9082. Select one: a. z = 0.8186 b. z = 1.33 c. z = 0.1814 d. z = −1.33

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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.