According to a 2018 survey of student loan debt incurred to finance undergraduate education, the statistics are: X̅  = $25,786.74, the presumed population standard deviation is $9,155.70, and n = 1,000. Please Note: The t-value with 999 degrees of freedom is 1.962.      1. Which standardized score is more appropriate: z-values or student-t?           Explain your answer.      2. What would happen to the confidence interval if you changed the               level of confidence to 99%?     3. What would happen to the confidence interval if you increase the                sample size?

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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.