Answer Happy

Some have argued that throwing darts at the stock pages to decide which companies to invest in could be a successful stock-picking strategy. Suppose a researcher decides to test this theory and randomly chooses 300 companies to invest in. After 1 year, 159 of the companies were considered winners; that is, they outperformed other companies in the same investment class. To assess whether the dart-picking strategy resulted in a majority of winners, the researcher tested Ho: p=0.5 versus H₁: p>0.5 and obtained a P-value of 0.1493. Explain what this P-value means and write a conclusion for the researcher. (Assume x is 0.1 or less.) O A. About 159 in 300 samples will give a sample proportion as high or higher than the one obtained if the population proportion really is 0.5. O B. About 159 in 300 samples will give a sample proportion as high or higher than the one obtained if the population proportion really is greater than 0.5. O C. About 15 in 100 samples will give a sample proportion as high or higher than the one obtained if the population proportion really is greater than 0.5. D. About 15 in 100 samples will give a sample proportion as high or higher than the one obtained if the population proportion really is 0.5. Choose the correct conclusion below. O A. Because the P-value is large, reject the null hypothesis. There is sufficient evidence to conclude that the dart-picking strategy resulted in a majority of winners. B. Because the P-value is small, reject the null hypothesis. There is sufficient evidence to conclude that the dart-picking strategy resulted in a majority of winners. O C. Because the P-value is small, do not reject the null hypothesis. There is not sufficient evidence to conclude that the dart-picking strategy resulted in a majority of winners. O D. Because the P-value is large, do not reject the null hypothesis. There is not sufficient evidence to conclude that the dart-picking strategy resulted in a majority of winners.