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Rc Cola soda, inc. claims that 20 percent of the population can identity its products. In efforts to boost their identity, Rc Cola employs a famous spokesperson to advertise. A survey is then taken to assess the results o the ad campaign. The results show that 21 percent of the 1000 respondents can identity RC cola products. Has the advertising campaign made any difference in the product identity? Use the 0.05 significance level.
a) State the null and alternate hypotheses
b) State the decision
c) Compute the value of the test statistic
d) Estimate the p- value
e) What is your decision regarding the null hypothesis? Interpret the result
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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