Question
Last year, the Falcon Beverage Company had 28% of the market. In order to increase their portion of the market, Falcon launched a new marketing
Last year, the Falcon Beverage Company had 28% of the market. In order to increase their portion of the market, Falcon launched a new marketing campaign. Six months after the new marketing campaign started, a sample of 600 individuals was taken and 195 of them indicated that they preferred Falcon to other beverage companies. At the 1% significance level, determine if the marketing campaign increased Falcon's share of the market.
- From options #1 to #4, select the correct hypotheses for this test.
- From options #5 to #8, select the correct p-value for this test.
- From options #9 to #12, select the correct conclusion for this test.
Select 3 correct answer(s)
1)H0:p=32.5%ofthemarket
Ha:p>32.5%ofthemarket
2)H0:p=28%ofthemarket
Ha:p<28%ofthemarket
3) H0:p=28%ofthemarket
Ha:p>28%ofthemarket
4) H0:p=32.5%ofthemarket
Ha:p<32.5%ofthemarket
5) 0.007
6) 0.0141
7) 0.0068
8) 0.993
9) Based on the sample, there is not enough evidence to conclude that Falcon's proportion of the market has increased.
10) Falcon's market share is 28%.
11) Based on the sample, there is enough evidence to conclude that Falcon's proportion of the market has increased.
12) Falcon's market share is more than 28%.
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