Let's say one day my sister tells me she has psychic powers and can help me predict the winners in horse racing games and for whatever reason, we only have 2 horse racers in a game. She tells me that if she chooses 'blue', then the blue horse wins (painted blue okay?) and if she chooses 'red', then the red horse wins. She does this $8$ times and it turns out she was correct on all of them, making me very wealthy. Now is this a fluke or not? Let's test this at a significance level of $\alpha = 0.05$
Assuming my sister isn't really a psychic, then I expect she would be correct half the time. This yields $\mu = 4$. So my null hypothesis is $\mu = 4$ and my alternative would be $\mu = 8 > 4$. Let $X$ be the random variable denoting the "number of correct predictions my sister makes".
So $X \sim Bin(8,1/2)$
and I did $P(X = 8| \mu = 4) = (1/2)^8 \approx 0 < 0.05$. This leads me to conclude I should reject my initial null hypthosis and conclude my sister may be a psychic.
However this seems to go against any intuition since my sister is actually only 3 years old, and I probably made a Type I Error. Is this a correct analysis?