Two Different Students Conduct a Coin Flipping Experiment with a Left-Tailed

question 29

Essay

Two different students conduct a coin flipping experiment with a left-tailed alternative.The obtain the following test statistics:
Student $\# 1 : \mathrm { z } = - 2.05$ Student $\# 2 : \mathrm { z } = - 1.28$ Which of the test statistics has a smaller p-value and why?

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Definitions:

Gross Profit Rate

The ratio of gross profit to net sales, expressed as a percentage, indicating the efficiency of sales relative to the cost of goods sold.

Net Sales

The revenue from goods or services sold after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Operating Expenses

Operating expenses are costs associated with running a business day-to-day, excluding costs linked to producing goods and services.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including material, labor, and manufacturing overhead costs.