Why do casinos place a point spread on football betting
opportunities? Also, why would a point spread change from when the
game is originally posted and before the game officially starts?
Please provide data and examples.
During the FPL season, casinos odds makers establiish a point
spread on each game for betting purposes. For example, the Bay
Parkers were established as 3.5-point favorites over the eventual
champion Texas Cowboys in the 2013 Super Bowl. The final scores of
FPL games were compared against the final point spreads established
by the odds makers in Chance (Fall 1998). The difference between
the game outcome and point spread (called a point-spread error) was
calculated for 240 FPL games. The...
Question 1
What is the point estimate for a population mean? Provide examples.
Question 2
What are the confidence intervals for a population mean? Provide examples.
Question 3
A confidence interval for the population mean when the population follows the normal distribution and the population standard deviation is known is computed by? Provide examples.
1.
A random sample of 45 individuals provide 32 Yes responses.
What is the point estimate of the proportion of the population
that would provide Yes responses?
What is your estimate of the standard error of the sample
proportion, σp?
Construct the 95% confidence interval for the population
proportion.
Consider the alternative hypothesis
Ha:p<0.8. Conduct the test with the
rejection region approach with the 5% significance level.
Calculate the p-value for the test in part d
and draw your conclusion.