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Mary received a non-solicited selection of compact discs in the mail,with a letter informing her that she was now a member of the CD of the month club.It also said that if she didn't want these CDs,she could simply send them back; otherwise,she would be billed $10 for each CD at the end of the month.She simply put them away,and did not respond.They continued to send her more CDs each month until she had received 100 of them over a period of 10 months.The club then sent her a letter demanding payment; otherwise,they would take legal action.Explain her legal obligation in these circumstances.
Confidence Interval Estimate
A range of values derived from sample data that is likely to contain the value of an unknown population parameter, expressed at a given level of confidence.
Prediction Interval
An estimate of an interval in which future observations will fall, with a certain level of confidence, based on current sample data.
Expected Value
The average outcome or mean of a random variable, calculated as the sum of all possible values each multiplied by its probability of occurrence.
Confidence Interval
A gamut of statistical values, extrapolated from sample data, predicted to likely retain the value of an undisclosed population parameter.
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