The last options are 25 50 2 75 98 A website keeps track of predictions made by

Question

The last options are 25 50 2 75 98 A website keeps track of predictions made by individuals in finance, poitics, sports, and entertainrment The website kept track of 666 stock predicions by a famed TV financial personality and author (such as recommendations to buy a stock) and lound 307 were corred predctions Tr these 666 predictions as a random sample of all of the TV personality's predictions Does the sample evidence suggest the TV personality is con ess than half the time? Complete parts (a) through () below corred (head) or incorrect (tail) Choose 307 tair coins (so that PH) PT-05) Each coin represents a predidion. For eadh coin record whether the TV personality s Choose conrect (head) or incorrect (tail). Choose 666 fair coins (so that P(H)-PT) 05) Each coin represents a prediction For each coin record whether the TV personality s correct (head) or incorrect (tail) 30? a weighted coin (so that P-666 and P(T) 1-P)Flip the coin 666 tmes and record whether the TV personaity is C. 307 Choose a weighted co n(so that POH): corredt (head) or incorrect (tail OD. and P T)-1 P00) Fip the on 307 times a drecord whether the TV personalty is (e) Use the coin-fipping applet in StatCrunch to build the null model descibed in part (d) to simulate 2000 repetitions of this study to obtain a P-value. Interpret the P-value. Select Applets, highlight Simulation, then select Coin fipping A dialog box similar to the one shown here ill appear. Use a foxed seed value of 10957 Simulate coin tosses: Probability of heads: 0.5 Number of coins: 666 Tally heads in tosses: Number307 (Type integers or decimails. Do not round.) Obtain a P-value. Interpret the P-value The P-value is 5 Assuming the TV personality is correct in haitf of ll their predidions, one would expect to observe 307 or tewer comrect predictions (out of 666 predictions) in about 25 of every 100 repettions of this study Round to three decimal places as needed) Enter your answer in the answer box and then click Check Answer Clear Al Final Check rema ning 906 PM ??? 7/31/2018

Explanation / Answer

The p - value is 0.50 and hence,

We would expect this in about 50 out of 100 repitions of this study.

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