The Iowa Department of Transportation repaired hundreds of bridges in 1993. To check the average cost to repair a bridge, a random sample of n = 55 bridges was chosen. The mean and standard deviation for the sample are $25,788 and $1,540, respectively. Records from previous years indicate an average bridge repair cost was $25,003. Use the sample data to test that the 1993 mean μυ is greater than $25,003. What is the test statistic T?

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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.