A Survey Claims That 7 Out of 10 Customers Recommend $H _ { 0 } : \mathrm { p } = 0.70 \text { and } H _ { A } : \mathrm { p } \neq 0.70$

question 21

Multiple Choice

A survey claims that 7 out of 10 customers recommend Western Drugs for pharmacy issues. To test this claim, a random sample of 100 customers is obtained from the list of Rewards customers. Of these 100 customers, 75 indicate that they recommend using Western Drugs for pharmacy needs. We would like to know if this claim is accurate.

• A) \(H _ { 0 } : \mathrm { p } = 0.70 \text { and } H _ { A } : \mathrm { p } \neq 0.70\)
• B) \(H _ { 0 } : \mathrm { p } = 0.70 \text { and } H _ { A } : \mathrm { p } > 0.75\)
• C) \(H _ { 0 } : \mathrm { p } = 0.70 \text { and } H _ { A } : \mathrm { p } < 0.70\)
• D) \(H _ { 0 } : \mathrm { p } \neq 0.70 \text { and } H _ { A } : \mathrm { p } = 0.70\)
• E) \(H _ { 0 } : \mathrm { p } = 0.75 \text { and } H _ { A } : \mathrm { p } \neq 0.75\)

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Definitions:

Product Flow

The movement of goods from the place of production to the point of sale and finally to the end-consumer, encompassing the entire supply chain process.

Information Flow

Information flow refers to the way information moves through an organization or system, facilitating decision-making and coordination.

Taxes and Tariffs

Mandatory financial charges imposed by a government on products, incomes, or activities, and tariffs specifically refer to taxes on imports or exports between sovereign states.

NPV

Net Present Value, a financial metric used to assess the profitability of an investment or project by discounting future cash flows to their present value.