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OneHallyu

econometrics help


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i have a midterm tomorrow and theres part of the subject i really dont understand. i have this question

 

 

 In a survey of 400 likely voters, 215 responded that they would vote for the incumbent and
185 responded that they would vote for the challenger. Let p denote the fraction of all
likely voters who preferred the incumbent at the time of the survey, and let pˆ be the
fraction of survey respondents who preferred the incumbent.
 
i already found 
 
pˆ = Y¯
=
215
400
= 0.5375
 
 
and 
 
 
SE(ˆp) = q
V ard(ˆp) = 0.02493.
 
 
 
now i have the question"
 What is the p-value for the test 0 H p: 0.5 = vs. 1 H p: 0.5 ≠ ?
 
 
now i have the answers on how to solve it, but i absolutely dont understand it at all
 
if someone could please explain to me, i would love them forever and give them a shit ton of wons
 
p − value = 2Φ µ
Y¯ act − µY,0
SE(Y¯ )= 2Φ µ
¯
0.5375 − 0.5 = 0.02493
 
= 2Φ (−1.504)
≈ 2(0.066)
= 0.132.
 
 
wtf is Î¦ and how do you use it. like how did they go from 2Φ (−1.504) to 2(0.066)?
 
 
 
 

 

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