Math Problem Statement

Assume you flip a coin 80 times, and calculate that it has a sample mean of 0.56, a 90% confidence interval of [0.61, 0.52], and a 99% confidence interval of [0.63, 0.49]. What can you conclude?

Pick ONE option

the coin is fair with certainty p < 0.01

the coin is not fair with certainty p < 0.01

the coin is not fair with certainty p < 0.1 but not p < 0.01

the coin is fair with certainty p < 0.1 but not p < 0.01

Solution

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Math Problem Analysis

Mathematical Concepts

Statistics
Confidence Intervals
Hypothesis Testing

Formulas

Confidence Interval Formula: CI = p̂ ± Z*(sqrt[(p̂(1-p̂))/n])
Sample Proportion (p̂) = x/n

Theorems

Central Limit Theorem
Normal Approximation of Binomial Distribution

Suitable Grade Level

Undergraduate Level