A psychic claims he can predict one year in advance whether a given movie star will win an Oscar. In the previous five years, he's successfully predicted 75% of the Oscar winners. Some Hollywood insiders claim he's actually privy to a group that's been rigging the Oscars, and it's your job to investigate this.

Do you think the psychic's predictions are impressive? Why or why not?

How would you go about calculating a P-value for his record, what kind of data would you need to calculate the value, and how low a P-value would you need to reject the hypothesis that the psychic's accuracy is due to chance alone?