Half of market share, Applied Statistics

Your company has developed a new product .Your company is a reputed company with 50% market share of same range of products. Your competitors also come with their new products equal to your new product. Based on your previous experience,
you initially estimated that, your market share of the new product would be 50%. You carry out random sampling of 25 customers who have purchased the new product ad realize that only 8 of them have actually purchased your product. Plan a hypothesis test to examine whether you are likely to have a half of market share. 

Posted Date: 3/20/2013 3:50:49 AM | Location : United States

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