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Question:Evidence
Callaway is thinking about entering the golf ball market. The company will make a profit if its market share is more than 20%. A market survey indicates that 140 of 624 golf ball purchasers will buy a Callaway golf ball.
Answer the following questions:
Is this enough evidence to persuade Callaway to enter the golf ball market?
How would you make the decision if you were Callaway management? Would you use hypothesis testing?
REFERENCE
Albright, S. C, & Winston, W. L. (2017). Business Analytics: Data Analysis and Decision Making (6th ed.). Boston, MA: Cengage Learning
Chapter 7: Sampling and Sampling Distributions
Chapter 8: Confidence Interval Estimation
Chapter 9: Hypothesis Testing
Verified Expert
This task provides a clear working example of one proportion z test. the claim is to determine whether there is enough evidence to persuade Callaway to enter the golf ball market. This is an example of right tailed test
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