The union for a particular industry has determined that the standard deviation of the daily wages of its workers is $25. A random sample of 100 workers in this ndustry has a mean daily wage of $110. Find a 99% confidence interval for the true mean daily wage of all union workers in the industry. Then give its lower imit and upper limit. Carry your intermediate computations to at least three decimal places. Round your answers to one decimal place. (If necessary, consult a list of formulas.) Lower limit: || ? Upper limit:

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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.