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Produce a new extra-spicy brand

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A ketchup manufacturer is in the process of deciding whether to produce a new extra-spicy brand. The company's marketing-research department used a national telephone survey of 6,000 households and found that the extra-spicy ketchup would be purchased by 335 of them.A much more extensive study made 2 years ago showed that 5 percent of the households would purchase the brand then. At a 2 percent significance level, should the company conclude that there is an increased interest in the extra-spicy flavor?

Reference no: EM132529178

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