The high price of medicines is a source of major expense for those seniors in the United States who have to pay for these medicines themselves. A random sample of 1600 seniors who pay for their medicines showed that they spent an average of $4300 last year on medicines with a standard deviation of $500. Make a 90% confidence interval for the corresponding population mean. Round your answers to cents. i to $ 4320.57 %24

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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.