To assess the accuracy of a laboratory scale, a standard weight known to weigh 1 gram is repeatedly weighed 4 times. The resulting measurements (in grams) are: 0.95, 1.02, 1.01, 0.98. Assume that the weightings by the scale when the true weight is 1 gram normally distributed with mean μ. Use these data to compute 95% confidence interval for μ. What is the lower and 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.