You get a $60,000 loan for a new dump truck. With the truck, you can generate $500 more business each week at 80% margin. Your i
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Answer:
a. We get 56 heads out of 100 tosses.
We will use one sample proportion test
x = 56
n = 100
Formula of test statistic =
=
=
refer the z table for p value
p value = 0.8849
a. We get 560 heads out of 1000 tosses.
We will use one sample proportion test
x = 560
n = 1000
Formula of test statistic =
=
=
refer the z table for p value
p value = .000148
p value of part B is less than Part A because part B have 10 times the number the tosses.