Flipping and Spinning Pennies Use the data in the table below with a 0.05 significance level to test the claim that when flipping or spinning a penny, the outcome is independent of whether the penny was flipped or spun. (The data are from experimental results given in Chance News.) Does the conclusion change if the significance level is changed to 0.01?

Solution 5BSC

As per the given information we have P value is 0.0648. On comparing this with significance level we find that. Thus we fail to reject the claim that the form of 100 Yuan is independent of whether the money was spent. Or we can say that we do not have sufficient evidence that to accept the claim of denomination effect.