A financial Services firm carries advertising in a newspaper. The firm estimates that 60% of the people in the potential area read the newspaper. The research further shows that 85% of the people who read the newspaper remember seeing the advertisement when questioned about it afterwards. What percentage of the people in the firm's potential market see and remember the advertisement?

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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.