Question

MAA ASSOCIATION OF AMERICA , week 8b . ch 20 inference Week 8b - Ch20 Inference About a Population Mean: Problem 1 Problem List Next (1 point) Our decisions depend on how the options are presented to us. Here's an experiment that illustrates this phenomenon. Tell 20 subjects that they have been given $50 but cant keep it all. Then present them with a long series of choices between bets they can make with the $50. Scattered among these choices in random order are 64 choices between a fixed amount and an all-or-nothing gamble. The odds for the gamble are always the same, but 32 of the fixed options read "Keep $20 and the other 32 read "Lose $30." These two options are exactly the same except for their wording, but people are more likely to gamble if the flxed option says they lose money. Here are the percent differences (Lose $30* minus "Keep $20") in the numbers of trials on which the 20 subjects chose to gamble: 7.530.8 6.2 176 14.3 8.316.720.0 10.521.7 0.827.3 if we make a stemplot, we would find the stemplot shows a sight skew to the right, but not so strong that it would invalidate the t procedures. All 20 subjects gan ied more o ten wen teed with a s re lost than when faced with a sure win. Give a 9 %coildence interval for the mean percent iaease in gambling when faced with a sure loss to Note: You can eam partial credit on this problem. You have attempted this problem 0 times. You have unlimited attempts remaining. ch

Answer 1