True or false with explanation Harry Houdini was skeptical o

True or false with explanation

Harry Houdini was skeptical of psychics and wanted to test the abilities of a well-known psychic, Nostradamus. Houdini asked Nostradamus to pick stocks, then tested whether Nostradamus\' selections outperformed the S&P500. He obtained a p-value of 0.042 for his statistical test. The p-value indicates the probability that the null hypothesis is rejected is 4.2%.

The daily sales for a local hardware store follows a probability distribution with a mean of $1230 and a standard deviation of $445. Suppose Leland takes a random sample of fifteen daily sales. The approximate shape of the sampling distribution of the sample mean daily sales is unknown.

The U.S. Food and Drug Administration (FDA) requires that all potential new drugs be tested to see whether they are actually effective before they can be released to the public. In essence, they are testing a null hypothesis that the drug is ineffective versus the alternative hypothesis that the drug is effective. Suppose the FDA decides to change the significance level on this test from 0.05 to 0.01. Relative to the 0.05 level of significance, the adoption of the 0.01 criterion will mean that there will be a reduction in the number of effective and ineffective drugs that are released.

Relative to a non-random sample, a random sample with the same sample size can be expected to yield an estimate of the population parameter that has less variability.

Colton and Nolan are preparing for the bar exam. On a series of practice exams, Colton and Nolan have the same average score, which is below the passing score set for the bar exam, but Colton\'s scores are twice as variable as Nolan\'s scores. Assuming all else is equal, we expect Colton will be more likely to pass the bar exam than Nolan.

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