The Next Questions Are Based on the Following Information

question 9

Multiple Choice

The Next Questions Are Based On The Following Information:
An alcohol brewery firm claims that the proportion of alcohol in their new drink is at most 10 percent.A random sample of 100 bottles of the drink were selected and found to consist of 9 percent alcohol.
-What conclusions can be drawn using a level of significance equal to 0.10?

• A)Since the p-value equals 0.9965,fail to reject the null hypothesis and conclude that the proportion of alcohol is not greater than 10 percent.
• B)Since the p-value equals 0.6293 fail to reject the null hypothesis and conclude that the proportion of alcohol is not greater than 10 percent.
• C)Since the p-value equals 0.0485,reject the null hypothesis and conclude that that the proportion of alcohol is not less than 10 percent.
• D)Since the p-value equals 0.1977,reject the null hypothesis and conclude that that the proportion of alcohol is less than 10 percent.

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Definitions:

Store Brand

Products marketed and sold under a retail store's brand name, often positioned as lower-cost alternatives to national brands.

Income Effect

The change in an individual's or economy's consumption choices as income increases or decreases.

Price Elastic

The responsiveness of the demand for a product or service to changes in its price, affecting sales volume and revenue.

Quantity Demand

The total amount of a product or service that consumers are willing to purchase at a given price over a specified period.