A new soft drink is being market tested. It is estimated that 60% of consumers will like the new drink. A sample of 96 taste tested the new drink.
a.Determine the standard error of the proportionb.What is the probability that more than 70.4% of consumers will indicate they like the drink?c.What is the probability that more than 30% of consumers will indicate they do not like the drink?

What will be an ideal response?



a.0.05
b.0.0188
c.0.9772

Business

You might also like to view...

If an analyst's goal is to determine how effectively a firm is managing its assets, which of the following sets of ratios would he or she examine?

A. Profit margin, current ratio, and fixed charge coverage ratio B. Quick ratio, debt ratio, and times interest earned C. Inventory turnover ratio, days sales outstanding, and fixed asset turnover ratio D. Total assets turnover ratio, price earnings ratio, and return on total assets E. Time interest earned, profit margin, and fixed asset turnover ratio

Business

How does culture impact communication?

What will be an ideal response?

Business

Duty-free status is granted to Caribbean nations, including Cuba under the guidelines of both CBERA and the GSP

Indicate whether the statement is true or false

Business

Jill claims that Fred, who is terminally ill and scheduled for surgery, gave her a gift of a pearl necklace. Fred says he never made such a gift and that Jill has wrongfully retained his property. If this dispute goes to court, what will the court need to determine?

A) Whether Fred made a gift causa mortis. B) Whether Fred had donative intent. C) Whether Jill accepted the property. D) Whether Jill made a gift inter vivos.

Business