Every year on Groundhog Day (February 2), the famous groundhog Punxsutawney Phil

Question

Every year on Groundhog Day (February 2), the famous groundhog Punxsutawney Phil tries to predict whether there will be 6 more weeks of winter. Suppose that you plan to take a random sample of 23 years and use weather data to determine the proportion of these years the groundhog's prediction was correct. If the groundhog has a 50-50 chance of making a correct prediction, the standard error of P for samples of size 23 is: a. sigma_y^- = 0.0435 b. sigma_y^- = 0.2085 c. sigma_y^- = 0.0870 d. sigma_y^- = 0.1474 e. sigma_y^- = 0.1043

Explanation / Answer

Ans: Sample size n=23.

sigma^2_par=0.5*0.5=0.25.

The standard error= sqrt(0.25/23)=0.10425=0.1043.

(e) is the correct answer.

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