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Significance to validate coca-cola claim

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Reference no: EM131907113

A research manager at Coca-Cola claims that the true proportion, p, of cola drinkers that prefer Coca- Cola over Pepsi is greater than 0.50. In a consumer taste test, 100 randomly selected people were given blind samples of Coca-Cola and Pepsi. 58 of these subjects preferred Coca-Cola. Is there sufficient evidence at the 5% level of significance to validate Coca-Cola's claim? Conduct an appropriate hypothesis test using (i) the p-value method and (ii) the rejection point method.

Reference no: EM131907113

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