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Consider the following game.You choose a number from 1 to 6 and pay $1 to roll three dice.If your number is rolled on any of the dice,you get your dollar back and one dollar for each of the times your number came up.For instance,if your number comes up on two of the three dice,than you get a total of three dollars back.On average,how much would you expect to win at this game?
Rejection Region
The area in the probability distribution that, if the test statistic falls within, leads to the rejection of the null hypothesis.
P-value Method
A statistical approach that determines the significance of results by comparing the p-value to a predetermined level of significance, often determining if there is enough evidence to reject a null hypothesis.
Rejection Region
The range of values for which the null hypothesis is rejected in hypothesis testing, based on the chosen significance level.
Level Of Significance
The probability threshold below which the null hypothesis is rejected in statistical testing, indicative of the risk of a Type I error.
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