The Longmont Computer Leasing Company wishes to estimate the mean number of pages that will be printed in a month on its leased printers. The plan is to select a random sample of printers and record the number on each​ printer's counter at the beginning of May.​ Then, at the end of​ May, the number on the counter will be recorded again and the difference will be the number of copies on that printer for the month. The company wants the estimate to be within ±140 pages of the true mean with a 98​% confidence level. Complete parts a and b below. a. The standard deviation in pages printed is thought to be about 1,100 pages. How many printers should be​ sampled? How many many printers should be sampled? b.Suppose the standard deviation is off+- by 10%. What percentage change in the required sample size would this produce?

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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.