Answer Happy

A study by Consumer Reports showed that 60% of supermarket shoppers believe supermarket brands to be as good as national name brands. To investigate whether this result applies to its own product, the manufacturer of a national name-brand ketchup asked a sample of shoppers whether they believed that supermarket ketchup was as good as the national brand ketchup. a. Formulate the hypotheses that could be used to determine whether the percentage of supermarket shoppers who believe that the supermarket ketchup was as good as the national brand ketchup differed from 60%. (2') b. If a sample of 100 shoppers showed 40 stating that the supermarket brand was as good as the national brand, what is the value for the test statistic? (5') c. What is the p-value? (5') d. At a significance level of .05, what is your conclusion? Should the national brand ketchup manufacturer be pleased with this conclusion? (3')