1. Evaluate
1 answer:
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Answer:
$0.558
Step-by-step explanation:
The expected value is the sum of the value of each outcome times the chance that it happens. In this case, there are two outcomes:
- Win $31 million
- Win $0
Then our expected value can be calculated as:
Answer:
For the interpretation we consider a value for d small is is between 0-0.2, medium if is between 0.2-0.8 and large if is higher than 0.8.
And on this case 1.713>0.8 so we have a large effect size
This value of d=1.713 are telling to us that the two groups differ by 1.713 standard deviation and we will have a significant difference between the two means.
Step-by-step explanation:
Previous concepts
The Effect size is a "quantitative measure of the magnitude of the experimenter effect. "
The Cohen's d effect size is given by the following formula:
Solution to the problem
And for this case we can assume:
the mean for females
the mean for males
represent the deviations for both groups
And if we replace we got:
For the interpretation we consider a value for d small is is between 0-0.2, medium if is between 0.2-0.8 and large if is higher than 0.8.
And on this case 1.713>0.8 so we have a large effect size
This value of d=1.713 are telling to us that the two groups differ by 1.713 standard deviation and we will have a significant difference between the two means.