Answer:
0.0433
Step-by-step explanation:
Since we have a fixed number of trials (N = 25) and the probability of getting heads is always p = 0.05, we are going to treat this as a binomial distribution.
Using a binomial probability calculator, we find that the probability of obtaining heads from 8 to 17 times is 0.9567 given that the con is fair. The probability of obtaining any other value given that the coin is fair is going to be:
1 - 0.9567 = 0.0433
Since we are going to conclude that the coin is baised if either x<8 or x>17, the probability of judging the coin to be baised when it is actually fair is 4.33%
Plug in 50 for x on the equation for the trend line
Is about 24,000 because if your finding the amount he's withdrawing is about 24,000
