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A market researcher is developing a new model of a product and wants to measure customer preference relative to the current model.
1. A market researcher is developing a new model of a product and wants to measure customer preference relative to the current model. Company policy says that new products will only be introduced if 75% of consumers prefer the new model over the old model. She conducts a test with the following hypotheses ?0:? = 0.75 and ??:? > 0.75 where p is the true proportion of consumers who prefer the new model over the old one. If the researcher rejects ?0 what should she tell her supervisor?
a. I should repeat the study to see if I get the same result.
b. We should ask other market researchers to test the acceptance of the new model.
c. There is insufficient evidence to conclude that the proportion of customers who prefer the new model is greater than 75%.
d. There is sufficient evidence to conclude that the proportion of customers who prefer the new model is greater than 75%.
