In the following payoff matrix, each firm has two possible strategies, and must move simultaneously. Assuming that each knows only its own payoff structure, what decision would each firm make? Is this a Nash equilibrium? Suppose each player can see the entire payoff structure instead of only its own. How would this affect Firm 2? Payoffs shown are (Firm 1, Firm 2): Firm 2 A B A 3, 1 2, 0 Firm 1 В 2, 4 1,5

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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.