Famous psychic, television personality Sylvia Browne is invited to Oprah Winfrey show to demonstrate her gift in a live TV broadcast. The process entails asking Sylvia a series of 20 independent questions with yes/no answers. The questions would be of the nature that she could not have any way of knowing the answer from prior knowledge. Suppose that Sylvia correctly answered 15 of the 20 questions, which of the following would be a viable conclusion to reach? If she were guessing, 15 is within one standard deviation of the mean and therefore she must not have any special psychic abilities. Because the probability of getting 15 or more correct is 0.0207, it is likely that she is just guessing at the questions. Because the probability of guessing exactly 15 correct is 0.0148, she must just be guessing. Because the probability of guessing 15 or more correctly is 0.0207, it is unlikely that she is guessing at the questions and may, in fact, have some special ability.
Famous psychic, television personality Sylvia Browne is invited to Oprah Winfrey show to demonstrate her gift in a live TV broadcast. The process entails asking Sylvia a series of 20 independent questions with yes/no answers. The questions would be of the nature that she could not have any way of knowing the answer from prior knowledge. Suppose that Sylvia correctly answered 15 of the 20 questions, which of the following would be a viable conclusion to reach? If she were guessing, 15 is within one standard deviation of the mean and therefore she must not have any special psychic abilities. Because the probability of getting 15 or more correct is 0.0207, it is likely that she is just guessing at the questions. Because the probability of guessing exactly 15 correct is 0.0148, she must just be guessing. Because the probability of guessing 15 or more correctly is 0.0207, it is unlikely that she is guessing at the questions and may, in fact, have some special ability.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Transcribed Image Text:Famous psychic, television personality Sylvia Browne is invited to Oprah Winfrey
show to demonstrate her gift in a live TV broadcast. The process entails asking Sylvia
a series of 20 independent questions with yes/no answers. The questions would be
of the nature that she could not have any way of knowing the answer from prior
knowledge. Suppose that Sylvia correctly answered 15 of the 20 questions, which of
the following would be a viable conclusion to reach?
If she were guessing, 15 is within one standard deviation of the mean and
therefore she must not have any special psychic abilities.
Because the probability of getting 15 or more correct is 0.0207, it is likely that
she is just guessing at the questions.
Because the probability of guessing exactly 15 correct is 0.0148, she must just
be guessing.
Because the probability of guessing 15 or more correctly is 0.0207, it is unlikely
that she is guessing at the questions and may, in fact, have some special ability.
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