The average price for a gallon of gasoline in the United States is $3.76 and in Russia it is $3.39. Assume these averages are the population means in the two countries and that the probability distributions are normally distributed with a standard deviation of $.25 in the United States and a standard deviation of $.20 in Russia. What is the probability that a randomly selected gas station in Russia charged more than the mean price in the United States (to 4 decimals)?

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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.