Coffee ​ a Supermarket Chain Has Its Own House Brand

question 143

Short Answer

Coffee
​ A supermarket chain has its own house brand of coffee.The general manager claims that their coffee is better than the coffee sold by a well-known Coffee Shop chain.To test the claim 40 individuals are randomly selected to participate in the following experiment.Each respondent is given the two brands of coffee to taste (without any identification)and asked to judge which one is better.Suppose that 25 people judge the Coffee Shop chain brand better,four say that the brands taste the same,and the rest claim that the supermarket brand is better. ​ ​
-{Coffee Narrative} Which test is appropriate for this situation?

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Definitions:

Interest Revenue

Earnings generated from lending money or through investments in interest-bearing financial instruments.

Income Tax Expense

The cost of income taxes a company incurs, reflecting the taxes to be paid to taxation authorities and adjustments to deferred tax assets or liabilities.

Deferred Tax Assets

The amount of income tax recoverable in future reporting periods in respect of deductible temporary differences and tax losses.

Retained Earnings

The portion of net income that is retained by a company rather than distributed to its shareholders as dividends, which is reinvested into business operations.