A street vendor at a parade sells fresh lemonade, soda, bottled water, iced-tea, and the unit price for each item is given in matrix P. The number of units sold of each item is given in matrix N. Compute NP and interpret the result. Lemonade Soda Water Теа N=[120 ( n) h oiv orh aT 70] 280 370 [$3.00]Lemonade $2.00 Soda P = $1.00 Water $1.50 Tea ienns visnib10

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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.