Eirwyn Case Study - Statictics Assignment Help

Assignment Task :

Question 1.  
In semester I 2020 exams were held over a 24-hour period, though many exams could still be done within 2 hours. The exam ran from 1pm one day to 1pm the next day (New Zealand time). The STATS 101/108 lecturers were interested if there would be any pattern in the exam marks depending on the submission time within this 24-hour period. Data was collected on exam marks and the number of hours after the exam started before the exam was submitted for most of the students in semester I. We will treat this a random sample of all students who could have taken the stage I statistics paper and sat the exam. 

Question 2.  Eirwyn enjoys going to the races most weekends. Each time he takes along S50. makes ten bets of S5 each (on ten different races), and meticulously records how much money he returns home with each time. The data set races . en contains a single variable, return, giving how much money he returned home with each week over a period of three years. For example, if return = 0 for a particular week, Eirwyn lost all S50, but if return 75, he made a profit of S25. Eirwyn has posed a number of questions.

• He wants to know if his current betting strategy results in a profit, a loss, or if he breaks even (so makes no profit or loss). How much is he actually winning or losing each week?

• Alter talking to a bookmaker he discovered that, in the long term, the average gambler loses 20% of the money they bet on the horses. Is he doing better than the average gambler?

• Eirwyn enjoys going to the races, and would be happy to continue going even if he loses a little money. As long as he feels like he is doing better than the average gambler and is tending to lose less than SIO a weekend ("cheaper than going to the movies") he will continue to go. Should he continue or stop? To answer these: 

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