Determine the odds used for determining the payoff
Assume you're playing a game of chance. If you bet $9 on certain event, you will collect $360 (including your $9 bet) if you win. Determine the odds used for determining the payoff.
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Scores on math section of college entrance exam are normally distributed with mean ?= 22.4 and standard deviation ?=3.1. Determine the probability that a randomly selected test-taker will score 25 or less on math section of this exam.
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Find out the null hypothesis, alternative hypothesis, test statistic, p value, conclusion and describe the proportion of adults who liked the candy compared to the proportion of children who liked the candy.
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