The average price of a college math textbook is $180 and the standard deviation is $25. Suppose that 15 textbooks are randomly chosen. Round all answers to 4 decimal places where possible. a. What is the distribution of x¯? x¯~ N(? ,? ) b. For the group of 15, find the probability that the average price is between $176 and $183. c. Find the third quartile for the average textbook price for this sample size. $ (round to the nearest cent)

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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.