Data Set 27 M&M Weights in Appendix B lists data from 100 M&Ms, and 27% of them
Question:
Data Set 27 "M&M Weights" in Appendix B lists data from 100 M&Ms, and 27% of them are blue. The Mars candy company claims that the percentage of blue M&Ms is equal to 24%. Use a 0.05 significance level to test that claim. Should the Mars company take corrective action?
Test the given claim. Identify the null hypothesis, alternative hypothesis, test statistic, P-value, or critical value(s), then state the conclusion about the null hypothesis, as well as the final conclusion that addresses the original claim. Use the P-value method unless your instructor specifies otherwise. Use the normal distribution as an approximation to the binomial distribution, as described in Part 1 of this section.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Mathematical Interest Theory
ISBN: 9781470465681
3rd Edition
Authors: Leslie Jane, James Daniel, Federer Vaaler