Many families in California are using backyard structures for home offices, art studios, andhobby areas as well as for additional storage. Suppose that the mean price for a customized wooden, shingled backyard structure is $3100. Assume that the standard deviation is$1200.a. What is the z-score for a backyard structure costing $2300?b. What is the z-score for a backyard structure costing $4900?c. interpret the z-scores in parts (a) and (b). Comment on whether either should beconsidered an outlier.d. if the cost for a backyard shed-office combination built in Albany, California, is $13,000,should this structure be considered an outlier? explain

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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.