1. In sample of 10000 betsa casino's mean profit is 0.22 with standard deviation 2. Suppose we want to test the claim that the mean profit is above 0.2

Find the standard error of the mean

//* Note that in the final exam you would also find

the test stat, here the test is is 1 , you would also find the p-value pvalue = P(Z>1) = 0.1587 using the chart and write H₀ :=0.2, H₁ :>0.2 and not reject H₀ because the pvalue isnot less than the default significance level=0.05 so there is not strong evidence themean is more than 0.2

What is the estimate	Answer 1 = ?
What is the standard error of the estimate	Answer 2 = ?

Answer hint: 0.02, 0.22, 2, -1, 1

2. Try the following questions then match the answers below.

Suppose ina sample of 100 customers that order a PS4 there are 52 that are male and you want to test the claim the proportion that are male is more than 50%. (a) What is the sample proportion of males? (b) What is the standard error of the sample proportion

Note that in the final exam you will do the extra steps , (c) what is the test stat (d) What is the p-value (e) What is the null and alternative hypothesis (f) What is the suitable conclusion.

Answers (c) test stat is 0.4 (d) p-value = Probability Z>0.4=0.3446 (In the exams students have to estimate this using a graph or look it up on a t-table)

(e) H₀:p=0.5 H_1::p>0.5 (f) The p-value is not less than the default significance level=0.05 so do not reject H₀ because there is not strong evidence the proportion is above 50%

What is the sample proportion	Answer 1 = ?
What is the standard error of the sample proportion	Answer 2 = ?

Answer Hint: 0.05, 52, 0.52, 100