Question: More and more people are abandoning national brand products and
More and more people are abandoning national brand products and buying store brand products to save money. The president of a company that produces national brand coffee claims that 40% of the people prefer to buy national brand coffee. A random sample of 700 people who buy coffee showed that 259 of them buy national brand coffee. Using α = .01, can you conclude that the percentage of people who buy national brand coffee is different from 40%? Use both approaches to make the test.
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