The Economics of Roll Up the Rim to Win. Roll up the Rim (RUTR) is a great Canadian tradition. Once a year Canadians flock to Tim Horton's to buy their coffees in the hopes of winning something wonderful. According to a Tim Horton's website, just by buying a cup of coffee at Tim Horton's you could win one of many great prizes (let's say a total of 260,959,840 RUTR cups are printed): Suppose you took a sample of 55,000 cups... Data from the sample, are saved in the Download .csv file. (a) We must group the prizes: Toyota RAV4 Vehicles, $5,000 MasterCard Prepaid, Napoleon Gourmet Grills, and $100 Tim Cards in to one category, called "Big Prizes." Explain why this necessary. a) less than b) more than a) less than a expected bmore than The sum of the observeM frequencies was 3 more than or equaldive, and it needed to be cmore than or equal fo ive. d) less than or equal to d) less than or equal to (b) Find the expected number of "Big Prizes" (Use one decimal) a) Туре I (c) If a = 5%, what type of error could have been made? P) Typel c) Type ll d) Type IV a) do b) do not c) may d) may not a) not b) significantly close to (d) Explain the meaning of a Type I error in the context of the above test. A type I error would mean that our goodness of fit test indicates the given distribution of prizes was ? v accurate when, in truth, the prizes really ? v follow the advertised distribution.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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	prize	Probability.of.winning	Number.of.observed.wins	Expected.wins
1	Toyota Rav4	1.4e-07	0	0.0077
2	$5000.00	6.54e-07	0	0.03597
3	Gourmet Grill	7.141e-06	0	0.392755
4	$100 Tims Card	0.000187653	10	10.320915
5	Free Doughnut	0.04911546	2713	2701.3503
6	Free Coffee	0.189427121	10211	10418.491655
7	Try again	0.761261831	42066	41869.400705

The Economics of Roll Up the Rim to Win. Roll up the Rim (RUTR) is a great Canadian tradition. Once a year Canadians flock to Tim Horton's to buy their coffees in the hopes of winning something wonderful.
According to a Tim Horton's website, just by buying a cup of coffee at Tim Horton's you could win one of many great prizes (let's say a total of 260,959,840 RUTR cups are printed): Suppose you took a sample of 55,000 cups...
Data from the sample, are saved in the Download .csv file.
(a) We must group the prizes: Toyota RAV4 Vehicles, $5,000 MasterCard Prepaid, Napoleon Gourmet Grills, and $100 Tim Cards in to one category, called "Big Prizes." Explain why this is necessary.
a) less than
b) more than
a) Tess than
b more than
c)'more than or equal to
d) less than or equal to
a) expected
b) observed frequencies was
C) more than or equal tdive, and it needed to be
d) less than or equal to
The sum of the
to"
five.
(b) Find the expected number of "Big Prizes"
(Use one decimal)
а) Туре I
(c) If a = 5%, what type of error could have been made? P) Typell
c) Type til
d) Туpe IV
a) do
b) do not
c) may
d) may not
a) not
b) significantly close to
?
(d) Explain the meaning of a Type I error in the context of the ábove test.
A type I error would mean that our goodness of fit test indicates the given distribution of prizes was
accurate when, in truth, the prizes really ?
follow the advertised distribution.

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