Formulate the null and alternative hypotheses

Reference no: EM13306662

In each of the following situations, formulate the null and alternative hypotheses:

a. A new product will be introduced if it is preferred by more than 70 percent of the consumers in the target market.

b. A new commercial will be aired if the average preference for it exceeds 5.8 on a 7-point scale.

c. A company will start selling its products online if more than 55 percent of the consumers express a preference for online purchasing.

d. The average price of a pair of jeans available in the marketplace exceeds $45.

e. Less than 40 percent of the people approve of the job that President Obama is doing.

f. The mean familiarity with banks is different from 4.0 on a 7-point scale.

Reference no: EM13306662

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