The average credit card debt for college seniors is $3262. If the debt is normally distributed with a standard deviation of $1100, find these probabilities.  f) What is the minimum amount a senior needs to owe to be considered a senior with debt in the top 10%? g) What is the maximum a senior needs to owe to be considered a senior with debt in the bottom 1%? Round to four decimal places.

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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.