This is really confusing
2 answers:
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Answer: C. At the α=0.05 significance level, they should conclude that more than 50% of adults support the tax increase.
Step-by-step explanation:
Given: Null hypothesis:
Alternative hypothesis:
p-value = 0.033
If the p-value is greater than alpha (p > . 05), then we fail to reject the null hypothesis.
If α=0.01 , then p-value > α i.e. we fail to reject the null hypothesis.
Conclusion: Exactly 50% of adults support the tax increase.
If α=0.05 then p-value < α i.e. we reject the null hypothesis.
Conclusion: more than 50% of adults support the tax increase.
Thus, Correct option: C .
Answer: The mean and variance of Y is $0.25 and $6.19 respectively.
Step-by-step explanation:
Given : You and a friend play a game where you each toss a balanced coin.
sample space for tossing two coins : {TT, HT, TH, HH}
Let Y denotes the winnings on a single play of the game.
You win $1; if the faces are both heads
then P(Y=1)=P(TT)=
You win $6; if the faces are both heads
then P(Y=6)=P(HH)=
You loose $3; if the faces do not match.
then P(Y=1)=P(TH, HT)=
The expected value to win : E(Y)=
Hence, the mean of Y : E(Y)= $0.25
Variance =
Hence, variance of Y = $ 6.19