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Mathematics, 07.06.2020 04:58 StupidBoy
Over several years, students of Professor Robin Lock have flipped a large number of coins and recorded whether the flip landed on heads or tails. As reported in a 2002 issue of Chance News, these students has observed 14,709 heads in a total of 29,015 flips.
Required:
a. What are the observational units for this study?
b. Determine the theory-based p-value for testing whether the long-run proportion of heads differs from 0.50.
c. What conclusion would you draw at the 0.05 significance level?
d. Are your results practically important? Why/why not?
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