OLA interview Question | Biased Coin
Question
A coin is flipped 1000 times and 560 times heads show up. Do you think the coin is biased?
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Answers ( No )
Null_hyp : Coin in biased
Alter_Hyp : Coin in Unbiased
Probability = 560/1000 = .56
Standard Error = under_root( (0.56)(1-0.56)/1000 = 0.015
z_val = 0.56-0.50/0.015 = 4
and with 5% of error rate value is 1.6 and 4 lies outside, hence we reject the null_hyp or Coin in Unbiased