A soft drink company asked you to conduct a survey on consumer preference on their soft drink product "Papsi-Cola" in Metro Manila. Based on your survey, 340 out of 500 people preferred the soft drink "Papsi Cola". What is the best point estimate for the true proportion of consumers preferring Papsi-Cola in Metro Manila? Construct a 95% confidence interval for the proportion of consumers in Metro Manila that prefer "Papsi-Cola". If more than 60% of the consumers prefer Papsi-Cola, the company will continue the production of the soft drink? Based on your findings, should you advise the company to continue the production of "Papsi-Cola"?

A soft drink company asked you to conduct a survey on consumer preference on their soft drink product "Papsi-Cola" in Metro Manila. Based on your survey, 340 out of 500 people preferred the soft drink "Papsi Cola". What is the best point estimate for the true proportion of consumers preferring Papsi-Cola in Metro Manila? Construct a 95% confidence interval for the proportion of consumers in Metro Manila that prefer "Papsi-Cola". If more than 60% of the consumers prefer Papsi-Cola, the company will continue the production of the soft drink? Based on your findings, should you advise the company to continue the production of "Papsi-Cola"?

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.3: Measures Of Spread

Problem 1GP

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