Fin, while snooping around his grandmother's basement stumbled upon a shiny object protruding from under a stack of boxes . When he reached for the object a genie miraculously materialized and stated: "You have found my magic coin. If you flip this coin an infinite number of times you will notice that heads will show 60% of the time." Soon after the genie's declaration he vanished, never to be seen again. Fin, excited about his new magical discovery, approached his friend Tom and told him about what he had found. Tom was skeptical of his friend's story, however, he told Fin to flip the coin 100 times and to record how many flips resulted with heads. (a) What is the probability that Fin will be able convince tom that his coin has special powers by finding a p value below 0.05 (one tailed).Use the Binomial Calculator (and some trial and error) (b) If tom told Fin to flip the coin only 20 times, what is the probability that Fin will not be able to convince tom (by failing to reject the null hypothesis at the 0.05 level)?
Fin, while snooping around his grandmother's basement stumbled upon a shiny object protruding from under a stack of boxes . When he reached for the object a genie miraculously materialized and stated: "You have found my magic coin. If you flip this coin an infinite number of times you will notice that heads will show 60% of the time." Soon after the genie's declaration he vanished, never to be seen again. Fin, excited about his new magical discovery, approached his friend Tom and told him about what he had found. Tom was skeptical of his friend's story, however, he told Fin to flip the coin 100 times and to record how many flips resulted with heads.
(a) What is the probability that Fin will be able convince tom that his coin has special powers by finding a p value below 0.05 (one tailed).
Use the Binomial Calculator (and some trial and error)
(b) If tom told Fin to flip the coin only 20 times, what is the probability that Fin will not be able to convince tom (by failing to reject the null hypothesis at the 0.05 level)?
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