Refer to the previous two exercises. Professor Lock’s students also “tipped” pennies by standing them on edge and then banging the table to see which way they would fall. The students found 10,087 heads in 14,611 tips. Answer parts (a) to (g) of the previous question with regard to penny tipping rather than flipping or spinning.

Date form previous exercise

a. What proportion of these flips resulted in heads?
b. Calculate the standardized value of this statistic for testing whether the long-run proportion of heads differs from 0.50.
c. Determine the theory-based p-value for testing whether the long-run proportion of heads differs from 0.50.
d. What conclusion would you draw at the 0.05 significance level?
e. Determine a 95% confidence interval for the long-run proportion of heads.
f. Does the confidence interval include the value 0.50? Is this consistent with your test decision in part (e)? Explain.
g. Based on the p-value and confidence interval, would you say that the difference between the sample proportion of heads and the value 0.50 is statistically significant? Would you say that the difference is practically important? Explain.