Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
Copy and paste the problems below into a word processing program (such as Microsoft Word). Answer the questions (be sure to include any relevant StatCrunch
Copy and paste the problems below into a word processing program (such as Microsoft Word). Answer the questions (be sure to include any relevant StatCrunch (and only statcrunch) output). Save the document and upload in the Canvas portal. Make sure to read through the Assignment 5 completion guide &, as you are doing this assignment. 1. The website pundittracker.com keeps track of predictions made by individuals in finance, politics, sports, and entertainment. Jim Cramer is a famous TV financial personality and author. Pundittracker monitored 678 of his stock predictions (such as a recommendation to buy the stock) and found that 320 were correct predictions. Treat these 678 predictions as a random sample of all of Cramer's predictions. (a) Determine the sample proportion of predictions Cramer got correct. Round to 4 decimal places. ee (b) Suppose that we want to know whether the evidence suggests Cramer is correct less than half the time (that is, less than a majority). State the null and alternative hypotheses. ning (c) Verify the normal model may be used to determine the P-value for this hypothesis test. Assume Cramer has made 20,000 predictions over his career. (d) Use the normal calculator in StatCrunch to determine the P-value. To do this, recognize that the mean of the distribution of the sample proportion is Mo = p. (where p. is the proportion stated in the null hypothesis) and the standard deviation is op = . Use these values to find the area under the normal curve to the left of p. Provide a screen capture of the normal calculator. (e) Use StatCrunch to find the P-value directly by selecting Stat > Proportion Stats > One Sample > With Summary. A Provide a screen capture of your output. Compare this result to the P-value from Part (d) using the normal calculator. (f) Interpret the P-value using natural frequency. For example, if we were to repeat this experiment 1000 times, we would expect...... (g) Based on the P-value, what does the sample evidence suggest? That is, what is the conclusion of the hypothesis test? Assume an a = 0.05 level of significance
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started