The average amount of money that people spend at Don Mcalds fast food place is $7.2700 with a standard deviation of $1.7900. 42 customers are randomly selected. Please answer the following questions, and round all answers to 4 decimal places where possible and assume a normal distribution. 1.The owner of Don Mcalds gives a coupon for a free sundae to the 4% of all groups of 42 people who spend the most money. At least how much must a group of 42 spend in total to get the free sundae? $

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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.