A company manufactures and sells two models of lamps, L1 and L2. To manufacture each lamp, the manual work involved in model L1 is 20 minutes and for L2, 30 minutes. The mechanical (machine) work involved for L1 is 20 minutes and for L2, 10 minutes. The manual work available per month is 100 hours and the machine is limited to only 80 hours per month. Knowing that the profit per unit is $15 and $10 for L1 and L2, respectively, determine the quantities of each lamp that should be manufactured to obtain the maximum benefit.L1 =5 lamps $1600 L2= 10 and $1800

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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.