Let's play a game where I flip a coin. If the coin lands on Heads you win a $1, if it lands on Tails you lose a $1. I flip a coin 8 times and here is the results Tails Tails Tails Tails Tails Tails Tails Tails So you lost 8 times in a row and thus lose $8.00.
Part1: Would you like to continue this game. Why or why not.

Part 2: Calculate the P-value of getting 8 tails in a row assuming the coin is fair. Is it a big number or small?

Part 3: Based on the P-value you got above what would you conclude about your initial hypothesis that the coin is fair.

Question

Citlallimichcarranzaidn Citlallimichcarranzaidn

06-11-2022
Mathematics

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Let's play a game where I flip a coin. If the coin lands on Heads you win a $1, if it lands on Tails you lose a $1. I flip a coin 8 times and here is the results Tails Tails Tails Tails Tails Tails Tails Tails So you lost 8 times in a row and thus lose $8.00.
Part1: Would you like to continue this game. Why or why not.

Part 2: Calculate the P-value of getting 8 tails in a row assuming the coin is fair. Is it a big number or small?

Part 3: Based on the P-value you got above what would you conclude about your initial hypothesis that the coin is fair.

Sagot :

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