~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Running tests---------------------------------------------------------------------Test summaryPassed: 1Failed: 0[ooooooooook] 100.0% passedQuestion 5.Explain whether you believe you can accurately use a sample size of 500 to de-termine the maximum. What is a specific con of using the maximum as your estimator? Use thehistogram above to help answer.
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1.55. Assessing Gary’s ModelsGames with GaryOur friend Gary comes over and asks us to play a game with him. The gameworks like this:We will flip a fair coin 10 times, and if the number of heads is greater than or equal to5, we win!Otherwise, Gary wins.We play the game once and we lose, observing 1 head.We are angry and accuse Gary ofcheating! Gary is adamant, however, that the coin is fair.Gary’s model claims that there is an equal chance of getting heads or tails, but we do notbelieve him. We believe that the coin is clearly rigged, with heads being less likely than tails.