160 heads and 240 tails resulted from 400 tosses of a coin. Find a 95% confidence interval for the probability of a head. Does this appear to be a fair coin? [Hint p = 12, q = 12, n = 400 Expected frequency = np = 200 Standard error = sqrt npq = 10 Actual difference = 200 - 160 = 40 Difference is greater than 3 times standard error coin is unfair.]

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Business Statistics

160 heads and 240 tails resulted from 400 tosses of a coin. Find a 95% confidence interval for the probability of a head. Does this appear to be a fair coin?
[Hint p = $$\frac{1}{2}$$, q = $$\frac{1}{2}$$, n = 400
Expected frequency = np = 200
Standard error = $$\sqrt {npq} $$ = 10
Actual difference = 200 - 160 = 40
Difference is greater than 3 times standard error coin is unfair.]

A) Can be said to be fair B) Can be or cannot be said to be fair C) Cannot be said to be fair D) None of the above

Answer & Solution

Correct Answer: Option C

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