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A supposedly fair coin was tossed 10 times and 4 heads were obtained. Test the hypothesis that the coin is fair versus the alternative that it is not fair. Use both the large sample approximation (check that this is valid ?rst) and the exact test. Compare the two p-values associated with each test and interpret your result. Had the coin been tossed only 5 times with 2 heads resulting (so that the same pˆ would have been obtained), what will change in how the hypothesis test is carried out?

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Accounting Basics, Accounting

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