Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A marketing analyst believes that the willingness to buy a brand of toothpaste is low. Specifically, the analyst expects the average brand preference to be

A marketing analyst believes that the willingness to buy a brand of toothpaste is low. Specifically, the analyst expects the average brand preference to be below 3, on a scale of 1 to 10. The analyst draws a random sample of 50 people and administers a short survey, seeking their brand preference. The analyst finds that the sample mean is 4, the sample standard deviation is 5. Even though the sample mean is higher, the analyst believes that the average brand preference is indeed below 3. Do you agree with the analyst? Present a hypothesis test, including the null and alternative hypothesis, specifying the type of test - one tailed or two tailed, if one tailed whether left or right. Compute the test statistic, and interpret the result.

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

Cambridge IGCSE And O Level Additional Mathematics

Authors: Val Hanrahan, Jeanette Powell

1st Edition

1510421645, 978-1510421646

More Books

Students also viewed these Mathematics questions

Question

Explain Galens pneuma concept of the soul.

Answered: 1 week ago

Question

What is Accounting?

Answered: 1 week ago

Question

Define organisation chart

Answered: 1 week ago

Question

What are the advantages of planning ?

Answered: 1 week ago

Question

Explain the factors that determine the degree of decentralisation

Answered: 1 week ago

Question

What Is acidity?

Answered: 1 week ago

Question

Absence of disparate impact

Answered: 1 week ago

Question

Performance appraisal criteria based on job analysis

Answered: 1 week ago

Question

Focus on clients needs (efforts to fulfi ll clients requirements)

Answered: 1 week ago