4) The Agnubrabrunksiwx Insurance Groupspecialises in home insurance. Its basic policy costs $ 1200 for a year and it pays out $100,000 in case of fire damage to a home. According to The Insurer's Almanac, the probability that a policy is paid out is 0.010288. What is the expected value for the TheAgnubrabrunksiwx Insurance Group ? ww www

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Types of Bias

Statistics is the study of data collection, organization, analysis, interpretation, and presentation. Statistical bias is a characteristic of a statistical technique or its findings in which the expected value deviates from the actual root quantitative parameter being estimated. According to the actual definition of bias, it refers to the tendency of a statistic to overestimate or underestimate a parameter.