| | Case 3: Send Money | | | Notes | | Stats Case #3 | "Send Cash" |
| | | | Updated: | Summer | 2020 | MMG525DL01 |
| | | | | p=Probaility of an event |
| | | | Testing p in 70% of college students (p=.70) get money from parents. |
| | | Note:Use the sampling method described in Sharpe, (Chapters 8-9) or devise your own random sampling method |
| | | Exploring the Binomial Distribution (See Sharpe, Chapters 5-6 Randomness and Probability). | | | | | | | | | | Notes |
| | | | The first line is done for you as a demonstration-you can remove it after viewing if you like. | | | | | | See Notes--> |
| | | | | | | MMG525OL01 | p. 260 | Don't Forget the | Conclusion G28 |
| | | | | | | | X=total # of successes | Running total # of | Running total # of | Estimate of p |
| | | | | | | | in 5 trials | successes | Sampled |
| | | Observation Numbers | | | | | | | | Success/Sample |
| | Sample |
| | Number | 1 | 2 | 3 | 4 | 5 |
| | 1 | F | F | S | S | S | 3 | 3 | 5 | 0.60 |
| | 2 |
| | 3 |
| | 4 |
| | 5 |
| | 6 |
| | 7 |
| | 8 |
| | 9 |
| | 10 | | | | | | | Computed Result | for p, ten trials | 0.6 | <--insert Average |
| | | | | | | | | | Theoretical p | 0.7 | 70% get $ from Parents |
| | | | | | | | | | Difference? | 0.1 | <--insert difference |
| | | Your | Conclusion | Here--> | | Conclusion? Was the p-value you got close to that of the text .70? |
| | | | | | | If it was close, then was your sampling method |
| | | | | | | adequate? If not, why not? If a random sample (yours) replicates | | | | ????? | <--Write your conclusion here |
| | | | | | | the reported value (70% of college students get money from |
| | | | | | | parents) or p=.70 how important is the number of samples? |
| | | | | | | What do you think happens as the number of samples rises? |
kvillamarin
UpdatedStats_Case_3_Send_Cash.xlsx
