Reference no: EM13673762

In Marketing research: Methodological foundations, : Applications and problems, Number 2, read the scenario about Bentley Foods, Inc. Complete the items (a through e) as detailed below. The paper must be two to three pages in length (not including the title and reference pages) and formatted according to APA style as outlined in the Ashford Writing Center. In addition, you must use at least two scholarly sources in addition to the text.

Bentley Foods, Inc., a large manufacturer of frozen foods, has developed a new line of frozen pizza. Management has agreed to begin producing and marketing the new line if at least 15% of the population would prefer the pizza over other frozen pizzas currently available. To determine preferences, a sample of 1,000 consumers was obtained; 172 indicated that they would prefer the new product over existing brands.
State the null and alternative hypotheses.
Compute the standard error of the proportion.
Calculate the z-statistic. Explain the probability of obtaining this value of the z-statistic if the null hypothesis is true.
Explain whether or not the null hypothesis should be rejected at the .05 significance level.
Explain the critical sample proportion at the .05 significance level.