The following information is from General Electric Corporation's annual reports. General Electric Revenue Employees (thousands) ($ million) $ 113,245 117,184 117,386 123,693 122,092 Year 2013 307 2014 305 2015 333 2016 295 2017 313 2018 125,615 283 S Click here for the Excel Data File Compute a simple index for the number of employees for GE using the period 2013–14 as the base. The index (2013–2014 = 100) for selected years is: (Round your answers to 1 decimal place.) Year Simple Index 2013 2014 2015 2016 2017 2018 What can you conclude about the change in the number of employees over the period? (Round your answer to 1 decimal place.) Compared to the average of 2013 and 2014, the number of employees is 7.8 % lower.

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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.