The following probability distributions of job satisfaction scores for a sample of information systems (IS) senior executives and IS middle managers range from a low of 1 (very dissatisfied) to a high of 5 (very satisfied). Job Satisfaction Score IS Senior Executives IS Middle Managers 1 0.05 0.04 2 0.09 0.10 3 0.03 0.12 4 0.42 0.46 5 0.41 0.28 What is the expected value of the job satisfaction score  for senior executives (to 2 decimals)? What is the expected value of the job satisfaction score for middle managers (to 2 decimals)? Compute the variance of job satisfaction scores for executives and middle managers (to 2 decimals). Executives Middle Management Compute the standard deviation of job satisfaction scores for both probability distributions (to 2 decimals). Executives       Middle Management

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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.