Toyota Camry Prices - Historic data suggest that among US teens and young adults the demand for buying used Toyota Camry is high. Suppose that the price of a used Toyota Camry is normally distributed with an average price of $7440 and a standard deviation of $538. Enter all answers rounded to 4 decimal places. 1. What proportion of used Toyota Camrys cost between $6800 and $8100? 2. What proportion of used Toyota Camrys cost less than $6800? 3. Suppose you want to purchase a used Toyota Camry. What is the chance that a randomly selected used Toyota Camry would cost more than $8100?

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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.