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QUESTION
When asked to call heads or tails for a coin toss, are people equally likely to choose heads or tails?
When asked to call heads or tails for a coin toss, are people equally likely to choose heads or tails? Conventional wisdom indicates that people tend to pick heads more often than tails.
- If people do not have a tendency to pick heads more often than tails (or vice versa), what would you expect the numerical value of the parameter to be? Is this the null hypothesis or the alternative hypothesis? If people do have a tendency to pick heads more often than tails, what can you say about the numerical value of the parameter? Is this the null hypothesis or the alternative hypothesis?
