Question: A study reports an analysis of 35 key product categories
A study reports an analysis of 35 key product categories. At the time of the study, 72.9% of the products sold were of a national brand, 23% were private label, and 4.1% were generic. Suppose that you want to test whether these percentages are still valid for the market today. You collect a random sample of 1,000 products in the 35 product categories studied, and you find the following: 610 products are of a national brand, 290 are private label, and 100 are generic. Conduct the test, and state your conclusions.
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