A university student center sells 1,600 cups of coffee per day at a price of $2.40. (A) A market survey shows that for every $0.05 reduction in price, 50 more cups of coffee will be sold. How much should the student center charge for a cup of coffee in order to maximize revenue? (B) A different market survey shows that for every $0.10 reduction in the original $2.40 price, 60 more cups of coffee will be sold. Now how much should the student center charge for a cup of coffee in order to maximize revenue?

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A: Recall the following fact.

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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.