A stock account started with a value of $120,000 in the year 1994. The value of the account appreciated to $175,000 by the year 2002. i) What was the annual growth rate between 1994 and 2002? Write your answer as a decimal rounded to 4 decimal places. Write your answer in a complete sentence form . ii) Assume that the stock value continues to grow by the same percentage. What will the value equal in the year 2006 ? Show all work and any equations you use. Round to the nearest thousand dollars. Write your answer in a complete sentence form .

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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.