Question
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
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started