The average amount of money spent for lunch per person in the college cafeteria is $7.26 and the standard deviation is $2.46. Suppose that 43 randomly selected lunch patrons are observed. Assume the distribution of money spent is normal, and round all answers to 4 decimal places where possible. What is the distribution of XX? XX ~ N(,) What is the distribution of ¯xx¯? ¯xx¯ ~ N(,) For a single randomly selected lunch patron, find the probability that this patron's lunch cost is between $7.2074 and $7.655.  For the group of 43 patrons, find the probability that the average lunch cost is between $7.2074 and $7.655.

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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.