Question

Step 1

**Test whether there is enough evidence to conclude that the company should launch the product.**

*State the appropriate hypothesis:*

Let *P* be the population proportion of customers who preferred the beverage to the regular higher-calorie drink.

A break even analysis claimed that the launch of the product is profitable if the beverage is preferred to the regular higher-calorie drink by more than 75% of all customers.

That is, the launch of product is profitable if *P* >0.75.

The researcher’s objective is to test, whether or not the population proportion of customers who preferred the beverage to the regular higher-calorie drink is greater than 0.75.

*The hypotheses are given below:*

*Null hypothesis:*

*H*_{0} : *P* ≤ 0.75

That is, the population proportion of customers who preferred the beverage to the regular higher-calorie drink is less than or equal to 0.75.

*Alternative hypothesis:*

*H*_{a} : *P *> 0.75 (Right tailed test)

That is, the population proportion of customers who preferred the beverage to the regular higher-calorie drink is greater than 0.75.

Step 2

**Obtain the sample proportion:**

It is given that among a sample of 100 customers who tasted the beverage, 80 customers preferred the beverage to the regular higher-calorie drink.

The number of customers sampled is *n *= 100.

The number of customers preferred the beverage to the regular higher-calorie drink in the sample is *x* = 80.

The sample proportion of customers who preferred the beverage to the regular higher-calorie drink is obtained as **0.8 **from the calculation given below:

Step 3

**Obtain the test statistic value:**

The number of orders sampled is *n *= 100.

The sample proportion of customers who preferred the beverage to the regular higher-calorie drink is *p*-hat = 8.

The population proportion of customers who...

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