SOLUTION: Question 9.56 from Applied Statics in Business and Economics Chapter 9 I have looked and looked on getting this resolved and I am truelly stumped. Please any help or support. Than

Question 126774This question is from textbook Applie Statics in Business and Econmics
: Question 9.56 from Applied Statics in Business and Economics Chapter 9
I have looked and looked on getting this resolved and I am truelly stumped. Please any help or support. Thank you!!!
A coin was flipped 60 times and came up heads 38 times. A. At the .10 level of signifiance, is the coin biased toward heads? Show your decision rule and calcualtions.
B. Calculate a p-value and interpret it. This question is from textbook Applie Statics in Business and Econmics

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A coin was flipped 60 times and came up heads 38 times. A. At the .10 level of signifiance, is the coin biased toward heads? Show your decision rule and calculations.
---------
Ho: p = 1/2
Ha: p = 1/2
-----------------
x = 38 ; n= 60; so p-hat = 38/60 = 0.63333
alpha = 10% so the critical values for this
two-tail test are z =-1.645,& +1.645
----------------
Test statistic:
z(0.6333)= (0.6333-0.5)/sqrt[(0.6333)(0.3667)/60] = 0.1333/0.0622 =2.1426
------------------
Since the test statistic is greater than the critical value, reject Ho
--------------------------
B. Calculate a p-value and interpret it.
p-value = 0.01607
Interpretation: Only 1.6% of test results could have given stronger
evidence that the coin is biased away from p=1/2.
=====================
Cheers,
Stan H.

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