Mathematics, 24.06.2020 18:01 raishagibson

According to Brad, consumers claim to prefer the brand-name products better than the generics, but they can't even tell which is which. To test his theory, Brad gives each of 199 consumers two potato chips - one generic, and one brand-name - then asks them which one is the brand-name chip. 92 of the subjects correctly identified the brand-name chip. Required:
a. At the 0.01 level of significance, is this significantly greater than the 50% that could be expected simply by chance?
b. Find the test statistic value.

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According to Brad, consumers claim to prefer the brand-name products better than the generics, but t...