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Suppose that you are the manager of a casino and you collect data on one of...

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Statistics

Suppose that you are the manager of a casino and you collectdata on one of your roulette tables. You find that among the last10,000 bets, there were only 350 bets for which a red or blacknumber did not win. On average, you expect the proportion ofwinning bets for black or red to equal p=18/19.

a) Compute a 95% confidence interval for the proportion ofwinning black or red bets.

b) Conduct a two-sided hypothesis test (α=0.05)for HO: p=18/19.State the relevant p-value and your decision whether to reject ornot reject HO.

c) Compare your results in part (a) and (b). Are theyconsistent?

Answer & Explanation Solved by verified expert
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given data and somecalculations aresample size n 10000sample proportion 1000035010000 965010000 0965az critical value for95 confidence    See Answer
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