Suppose that for a company manufacturing calculators, the cost and revenue equations (in dollars) are given by C = 80000 +40x, R= 400 20 where the production output in one week is a calculators. If the production rate is increasing at a rate of 500 calculators when the production output is 6000 calculators, find each of the following: Rate of change in cost = calculators week per Rate of change in revenue = calculators per week Rate of change in profit = calculators per week

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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.