Question: Really small P-value. For Example 6.21 (page 329), we noted that the P-value for testing the null hypothesis of m 5 0 is 2PsZ $

Really small P-value. For Example 6.21

(page 329), we noted that the P-value for testing the null hypothesis of m 5 0 is 2PsZ $ 25.33d. Without calculation, we further noted that the P-value is obviously much less than 0.001.

(a) Just how small is the P-value? Excel will actually report very small probabilities. Use the NORM.DIST function to find the probability.

(b) Relate the extremely small probability found in part

(a) to a friend with the small probability event of winning the multi-state Powerball lottery, which has probability of 1 in 175 million.

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