SOLUTION: I see that the following problem had already been solved, but I want to understand why it was solved the way it was compared to how I thought it should be solved. Thanks in advance
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Question 127352This question is from textbook Applied Statistics in Business and Economics
: I see that the following problem had already been solved, but I want to understand why it was solved the way it was compared to how I thought it should be solved. Thanks in advance for your assistance in this matter!
A coin was flipped 60 times and came up heads 38 times. (a) At the .10 level of significance, is the coin biased toward heads? Show your decision rule and calculations. (b) Calculate a p-value and interpret it.
Ho: p is equal to .50
Ha: p is not equal to .50
alpha=10%, x=38, n=60, p-hat=.63
Critical value: z=-1.645 and 1.645
(0.63-.50)/sqrt[.50*.50/60]=2.01395134
since z is greater than -1.645 and 1.645, the Ho should be rejected.
p-value=0.022007
Therefore, only 2.2% of test results could have given stronger evidence that the coin is biased away from p=.50
Thanks again for your assistance in this matter!
This question is from textbook Applied Statistics in Business and Economics
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