Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A Korean BBQ restaurant wants to know whether their menu Honey Pork Belly appeals to its customers. So the owner picked 50 customers and asked

A Korean BBQ restaurant wants to know whether their menu Honey Pork Belly appeals to its customers. So the owner picked 50 customers and asked them if they like it, and 35 of them answered they like the menu. With an alternative hypothesis that more than half of customers like Honey Pork Belly, the test statistics calculated are as follows:

  • Sample proportion: 0.700 (= 35/50)
  • Standard error of proportion: 0.06928
  • Test statistic (z value): 1.443
  • p-value: 0.07446

What should the owner do with this menu? Write down your answers for below subquestions.

a. What's the definition of p-value? Use the words we learn from the class, not fancy ones by Chat GPT or from the internet.

b. If the owner wants to be 95% correct, which means the owner is willing to take up to 5% of alpha risk, should the owner drop Honey Pork Belly from the menu?

c. If the owner wants to take more risks by setting 90% of confidence level, does your answer in a change?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Precalculus

Authors: Michael Sullivan

9th edition

321716835, 321716833, 978-0321716835

More Books

Students also viewed these Mathematics questions

Question

Are summer stipends available?

Answered: 1 week ago