Does the confidence interval in part (a) support the claim made by one of the company’s marketing managers that more than half of the consumers in this urban location favor its drink over the competitors? Explain your answer. Please include formula/ steps for excel. Answer (A)Sample sizeInstances of ppl who prefers "our brand"Proportion that prefers "our brand"z-value for 95% CLPreferenceOur brand250Our brand134Our brand0.54Competing brand1.96Our brandLowerHigherCompeting brandCL for proportion0.4780.602Our brand

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Answered: Does the confidence interval in part…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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Does the confidence interval in part (a) support the claim made by one of the company’s marketing managers that more than half of the consumers in this urban location favor its drink over the competitors? Explain your answer. Please include formula/ steps for excel.

Transcribed Image Text:Answer (A) Sample size Instances of ppl who prefers "our brand" Proportion that prefers "our brand" z-value for 95% CL Preference Our brand 250 Our brand 134 Our brand 0.54 Competing brand 1.96 Our brand Lower Higher Competing brand CL for proportion 0.478 0.602 Our brand

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