A marketing research consultant hired by Red Bull^® is interested in determining if the proportion of customers who prefer Red Bull^® to other energy drink brands is over 50%. A random sample of 200 consumers was selected from the market under investigation, 55% favored Red Bull^® over other brands. Additional information is presented below.
-(A) If you were to conduct a hypothesis test to determine if greater than 50% of customers prefer Red Bull^® to other brands, would you conduct a one-tail or a two-tail hypothesis test? Explain your answer.

(B) How many customers out of the 200 sampled must have favored Red Bull^® in this case?

(C) Using a 5% significance level, can the marketing consultant conclude that the proportion of customers who prefer Red Bull^® exceeds 50%? Explain your answer.

(D) If you were to use a 1% significance level, would the conclusion from (C) change? Explain your answer.

Question

A marketing research consultant hired by Red Bull^® is interested in determining if the proportion of customers who prefer Red Bull^® to other energy drink brands is over 50%. A random sample of 200 consumers was selected from the market under investigation, 55% favored Red Bull^® over other brands. Additional information is presented below.

A marketing research consultant hired by Red Bull<sup>®</sup> is interested in determining if the proportion of customers who prefer Red Bull<sup>®</sup> to other energy drink brands is over 50%. A random sample of 200 consumers was selected from the market under investigation, 55% favored Red Bull<sup>®</sup> over other brands. Additional information is presented below. -(A) If you were to conduct a hypothesis test to determine if greater than 50% of customers prefer Red Bull<sup>®</sup> to other brands, would you conduct a one-tail or a two-tail hypothesis test? Explain your answer. (B) How many customers out of the 200 sampled must have favored Red Bull<sup>®</sup> in this case? (C) Using a 5% significance level, can the marketing consultant conclude that the proportion of customers who prefer Red Bull<sup>®</sup> exceeds 50%? Explain your answer. (D) If you were to use a 1% significance level, would the conclusion from (C) change? Explain your answer.

-(A) If you were to conduct a hypothesis test to determine if greater than 50% of customers prefer Red Bull^® to other brands, would you conduct a one-tail or a two-tail hypothesis test? Explain your answer.

(B) How many customers out of the 200 sampled must have favored Red Bull^® in this case?

(C) Using a 5% significance level, can the marketing consultant conclude that the proportion of customers who prefer Red Bull^® exceeds 50%? Explain your answer.

(D) If you were to use a 1% significance level, would the conclusion from (C) change? Explain your answer.

Quizplus · Accepted Answer

The Answer of A marketing research consultant hired by Red Bull ® is interested in determining if the proportion of customers who prefer Red Bull ® to other energy drink brands is over 50%. A random sample of 200 consumers was selected from the market under investigation, 55% favored Red Bull ® over other brands. Additional information is presented below. -(A) If you were to conduct a hypothesis test to determine if greater than 50% of customers prefer Red Bull^® to other brands, would you conduct a one-tail or a two-tail hypothesis test? Explain your answer. ( B) How many customers out of the 200 sampled must have favored Red Bull^® in this case? ( C) Using a 5% significance level, can the marketing consultant conclude that the proportion of customers who prefer Red Bull^® exceeds 50%? Explain your answer. ( D) If you were to use a 1% significance level, would the conclusion from ( C) change? Explain your answer.

A Marketing Research Consultant Hired by Red Bull® Is Interested

A Marketing Research Consultant Hired by Red Bull^® Is Interested