Field tests of a low-calorie sport drink found that 80 of the 100 who tasted the beverage preferred it to the regular higher-calorie drink. A break-even analysis indicates that the launch of this product will be profitable if the beverage is preferred by more than 75% of all customers.
(a) State the null and alternative hypotheses.
(b) Describe a Type I error and a Type II error in this context.
(c) Find the p-value for a test of the null hypothesis. If a = 0.10, does the test reject H0?