A cola company wants to change its formula for producing cola, but first it wants to make

Question:

A cola company wants to change its formula for producing cola, but first it wants to make sure that more than 70 % of its customers will like the new cola better than the old. Two thousand people taste tested the cola, and 1,422 liked the new product better. Can the company reject the null hypothesis that only 70 % of its customers will like the new cola more? Do a 5 % test.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

Question Posted: