Find the new balance at the end of the billing cycle using the average daily balance method. Assume one month between billing dates and find the finance charge using an 18% annual rate. Billing date: May 1 with a balance of $315.98 May 5: Payment $125.00 May 20: Birthday present $ 45.75

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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.