The arrival of buses from the campus to student housing in the late afternoon is modeled by a Poisson process with an interarrival time of 30 minutes. Consider the situation where a bus has just arrived at 4.29 PM. (a) A student arrives at 4.30 PM and misses the bus. Find the expected value of time that the student will have to wait for the next bus to student housing? (b) At 4.52 PM the next bus has not yet arrived, and another student comes to the bus stop. Find the expected value of time that these two students will have to wait for the next bus?

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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.