A lakeside resort offered a midweek package at $185 per night for two people. The package included accommodation in a one-bedroom suite, which regularly sold for two, regularly priced at $16 per person, and a 25% discount on spa services, a value of $60 per person. (a) What was the overall markdown at which the packages were sold? (b) What was the overall rate of markdown at which the packages were sold? (a) The overall markdown was $ (Type an integer or a decimal ) (b) The overall rate of markdown was (Round the final answer to two decimal places as needed Round all intermediate values to six decimal places as needed)

A lakeside resort offered a midweek package at $185 per night for two people. The package included accommodation in a one-bedroom suite, which regularly sold for two, regularly priced at $16 per person, and a 25% discount on spa services, a value of $60 per person. (a) What was the overall markdown at which the packages were sold? (b) What was the overall rate of markdown at which the packages were sold? (a) The overall markdown was $ (Type an integer or a decimal ) (b) The overall rate of markdown was (Round the final answer to two decimal places as needed Round all intermediate values to six decimal places as needed)

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Concept explainers

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.

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A lakeside resort offered a midweek package at $185 per night for two people. The package included accommodation in a one-bedroom suite, which regularly sold for $296
two, regularly priced at $16 per person, and a 25% discount on spa services, a value of $60 per person.
(a) What was the overall markdown at which the packages were sold?
(b) What was the overall rate of markdown at which the packages were sold?
(a) The overall markdown was $
(Type an integer or a decimal.)
(b) The overall rate of markdown was %.
(Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

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