Suppose the Acme Drug Company develops a new drug, designed to prevent colds. The company states that the drug is equally effective for men and women. To test this claim, they choose a simple random sample of 100 women and 200 men from a population of 100,000 volunteers. At the end of the study, 38% of the women caught a cold; and 51% of the men caught a cold. Based on these findings, can we reject the company's claim that the drug is equally effective for men and women? Use a 0.05 level of significance.

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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.