To boost holiday sales, a jewelry store in Bismark, North Dakota is advertising the following promotion: "If more than seven inches of cummulative snow fall on December 24, 25, 26, 27, and 28, you get your money back on all purchase on December 17." To analyze this promotion, the store mananger has collected data and determined that snowfall over this 5-day period in December is normally distributed with an average of 6 inches and standard deviation of 0.559 inches. a. What is z? b. What is the probability that the store will have to refund its money to its December 17 customers? (Round to nearest 0.0001)

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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.