7) A small company has five employees. The following table represents the number of years each has been emp (x) and the hourly wage in dollars (y). 0.5 1.0 1.75 2.5 3.0 y 9.51 8.23 10.95 12.70 12.75 (a) Compute x, ỹ, Sx, and sy. Sx = Sy = (b) Compute the correlation coefficient between years of service and hourly wage by first completing the table (provide four decimals). y x – x у — У (x – x\ (y- y) Sx Sy Sx Sy 0.5 9.51 1.0 8. 23 1.75 10.95 2.5 12.70 3.0 12.75 II

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Q: What are the steps to solving this problem?

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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.