Sample data on weekly sales of two dairy products, X and Y were reported as follows: Lilongwe dairy, X 120 100 160 250 180 130 300 40 Long life, Y 70 86 67 100 45 80 90 95 a. Apply the CV, and find out which of the 2 products shows greater fluctuations in sales.

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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.