You need to decide whether you should invest in a particular stock. You would like to invest if the price is likely to rise in t
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Answer:
1) test is one tail hypothesis test.
2) 110 sampled customers must have favored Coke.
3) at 5% significance, We cannot conclude that the proportion of customers who prefer Coca-Cola exceeds 50%.
4) at 1% significance level, the conclusion would not change.
Step-by-step explanation:
1) Let p be the proportion of customers who prefer Coke to other brands
: p=0.50
: p>0.50
Since the alternative hypothesis claims p <em>more than</em> 0.50, this test is one tail hypothesis test.
2) Out of a random sample of 200 consumers, 55% favored Coca-Cola over other brands. Thus 200 × 0.55 = 110 sampled customers must have favored Coke.
3) at 5% significance level, p-value =0.07761 >0.05, therefore we fail to reject the null hypothesis. We cannot conclude that the proportion of customers who prefer Coca-Cola exceeds 50%.
4) at 1% significance level, p-value =0.07761 >0.01, thus the conclusion does not change