A business has just completed a marketing campaign. They want to determine if their original market share of 50% has increased as a result of the campaign. A survey conducted found 81 out of 150 people had bought the products. Determine whether the company has increased its market share i. Write down the null and alternative hypotheses for this test. ii. The sample proportion value is missing from the output above. What is this value? iii. Explain why we can use the following test static to conduct this test. ? = ?̂− ? √??⁄? iv. Use either the ?-value or the ? statistic in the output provided to conduct the test. Has the market share of the company increased?
A business has just completed a marketing campaign. They want to determine if their original market share of 50% has increased as a result of the campaign. A survey conducted found 81 out of 150 people had bought the products. Determine whether the company has increased its market share
i. Write down the null and alternative hypotheses for this test.
ii. The sample proportion value is missing from the output above. What is this value?
iii. Explain why we can use the following test static to conduct this test.
? =
?̂− ?
√??⁄?
iv. Use either the ?-value or the ? statistic in the output provided to conduct the test. Has the market share of the company increased?
v. The marketing team plan to continue to monitor their market share. In a future study, they want to be able to estimate their market share to within +/−5% and with 90% confidence. What size sample is required? Use the sample proportion from part ii.
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