The average cost of a luxury car on a large lot is $36595. Suppose that the distribution is normal with a standard deviation equal to $6600. If a random sample of 75 cars is made, what is the probability that the sample mean is greater than $37570? Assume that the sample is taken from a large number of cars and the correction factor can be ignored. Round your z−value to two decimal places. Give your final answer as a percent rounded to tw

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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.