Last Year, a Soft Drink Manufacturer Had 21% of the Market

Essay

Last year, a soft drink manufacturer had 21% of the market. In order to increase their portion of the market, the manufacturer has introduced a new flavor in their soft drinks. A sample of 400 individuals participated in the taste test and 100 indicated that they like the taste. We are interested in determining if more than 21% of the population will like the new soft drink.
a.Set up the null and the alternative hypotheses.
b.Determine the test statistic.
c.Determine the p-value.
d.At 95% confidence, test to determine if more than 21% of the population will like the new soft drink.