Mathematics, 06.05.2020 04:29 hardyaaron5048

Kellogg is planning to market a new kind of cereal. However, before marketing this product, the company wants to find what percentage of people will like it. The company’s research department selected a random sample of 500 persons and asked them to taste it. Of these 500 persons, 280 said they liked it. Set up a 95% confidence interval estimate of the proportion of all people who like this cereal. Kellogg will market the cereal if at least half of the people in the population will like it. Based on the sample results, should Kellogg market the cereal? What is the predominant formula you will use to solve the problem?

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Kellogg is planning to market a new kind of cereal. However, before marketing this product, the comp...

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