The following screenshot shows an excel worksheet with the variable "Flat or house" It has all in the properties in Sydney that had a bond payment in 2018 (The whole population) A COUNTA(A4:A173239) 118812 + COUNTIF(A4:A173239,"F") 1 173236 Flat (F) or House (H) F 78440 114829 173239 F 173240 clearly a small random sample of the variable "Flat or House" is shown below A 114829 173239 Suppose we are interested in the proportion of Flats

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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.