The engines made by Ford for speedboats had an average power of 220 horsepower (HP) and standard deviation of 15 HP. The population distribution can be assumed to be normal. a. Find the probability that an engine, chosen at random, will have a horsepower HP less than 215. Graph the situation. Shade in the area to be determined then find the probability, round to 3 decimal places. b. Find the standard deviation of the distribution of sample means with sample size n = 25. c. A potential buyer intends to take 25 engines and will not place an order if their mean horse power is less than 215. Determine the probability that the buyer will not place an order? Graph the situation. Shade in the area to be determined then find the probability, round the answer to 3 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.