A particular brand of candy-coated chocolate comes in five different colors that we shall denote as A1 = brown}, A2 ={yellow}, A3 ={orange}, A4 ={green}, and A5 ={coffee}. Let pi equal the probability that the color of a piece of candy selected at random belongs to Ai, i = 1, 2, . . . , 5. Test the null hypothesis

using a random sample of n = 580 pieces of candy whose colors yielded the respective frequencies 224, 119, 130, 48, and 59. You may select the significance level or give an approximate p-value.

GenBus306Session9: RandomVariables Forcaseupdates Assume15%telephonebookings Nowthatweknowaboutprobability,howdowemakedecisionsinvolvingrisk Tomakeadecision,weneedtoknowpossibleoutcomes(radonvariables)and probabilitiesofoutcomes(distributions) Arandomvariable(canbecontinuousordiscrete)associatesanumericvaluewitheach possiblerandomoutcome Forexample: • Lotteryoutcomes • #ofstudentsinclasstoday • futurestockprices • #ofcustomersthatwalkintoastore Anygambleisarandomvariable Randomvariablescanhavedifferentdistributions:thenormalbellcurveisthemost common Inclasswealsocoveruniformandanotherthatstartswithab Theexpectedvalueofadiscreterandomvariableistheprob