Your mother said, if one grading period your grade in Engineering Data Analysis is 90 and above, she will add P50.00 to your daily allowance, P20.00 if your grade is 80-89 but decrease it by P10.00 if your grade is 79 and below. If the probability to get 90 and above is 12%, while you have 45% chance to get 80-89, what is your expected additional allowance per quarter?

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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.