One study (Journal of Political Economy, Feb. 1988) of gambling newsletters that purport to improve a bettor's

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One study (Journal of Political Economy, Feb. 1988)

of gambling newsletters that purport to improve a bettor's odds of winning bets on NFL football games indicates that the newsletters' betting schemes were not profitable. Suppose a random sample of 50 games is selected to test one gambling newsletter. Following the newsletter's recommendations, 30 of the 50 games produced winning wagers.

a. Test whether the newsletter can be said to significantly increase the odds of winning over what one could expect by selecting the winner at random.

Use a = .05

b. Calculate and interpret the p-value for the test.

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