the Wall Street Journal reported that Walmart Stores inc. is planning to lay off 2300employees at its Sam’s Club warehouse unit. Approximately half of the layoffs will behourly employees (the Wall Street Journal, January 25–26, 2014). Suppose the following data represent the percentage of hourly employees laid off for 15 Sam’s Club stores.55 56 44 43 44 56 60 62 57 45 36 38 50 69 65a. Compute the mean and median percentage of hourly employees being laid off at thesestores.b. Compute the first and third quartiles.c. Compute the range and interquartile range.d. Compute the variance and standard deviation.e. Do the data contain any outliers?

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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.