The IDOLE Company has two assembly lines in its Hamburg plant. Line A produces an average of 335 units per day with a standard deviation equal to 11units. Line B produces an average of 145 units per day with a standard deviation equal to 8 units. Based on this information using the coefficient of variation determine which line is relatively more consistent? Explain the answer by the information given and through the calculations involved in arriving at the answer.

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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.