The XO Group Inc. conducted a survey of 1S1000 brides and grooms married in the United States and found that the average cost of a wedding is $29858 (XO Group website, January 51 2015). Assume that the cost of wedding is normally distributed with a mean of $29,858 and a standard deviation of $5600. a. What is the probability that a wedding costs less than $20,000? b. What is the probability that a wedding costs between $20,000 and $30,000? c. For a wedding to be among the 5% most expensive, how much would it have to cost?

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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.