The Economic Policy Institute periodically issues reports on wages of entry-level workers. The institute reported that entry-level wages for male college graduates were $21.68 per hour and for female college graduates were $18.80 per hour in 2011. Assume that the standard deviation for male graduates is $2.30, and for female graduates it is $2.05. (a) What is the sampling distribution of x for a random sample of 50 male college graduates? If required, round your answer to four decimal places. (b) What is the sampling distribution of x for a random sample of 50 female college graduates? If required, round your answer to four decimal places. (c) In which of the preceding two cases, part (a) or part (b), is the standard error of x smaller?

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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.