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Author Question: Last year, a soft drink manufacturer had 21% of the market. In order to increase their portion of ... (Read 89 times)

wqwpfwpoefnpwenf

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on: Mar 25, 2023

Last year, a soft drink manufacturer had 21% of the market.  In order to increase their portion of the market, the manufacturer has introduced a new flavor in their soft drinks.  A sample of 400 individuals participated in the taste test and 100 indicated that they like the taste. We are interested in determining if more than 21% of the population will like the new soft drink.

a.Set up the null and the alternative hypotheses.
b.Determine the test statistic.
c.Determine the p-value.
d.At 95% confidence, test to determine if more than 21% of the population will like the new soft drink.

Essentials of Statistics for Business and Economics ¦ Anderson, Sweeney, Williams, Camm, Cochran ¦ 7th Edition
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Marked as best answer by wqwpfwpoefnpwenf on Mar 25, 2023

Jim457

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Reply #1 on: Mar 25, 2023
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wqwpfwpoefnpwenf

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Reply 2 on: Mar 25, 2023
Thanks for the timely response, appreciate it

cassie_ragen

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Reply 3 on: Yesterday
Wow, this really help

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