Vermont-Based Green Mountain Coffee Roasters Dominates the Market for Single-Serve

question 38

Multiple Choice

Vermont-based Green Mountain Coffee Roasters dominates the market for single-serve coffee in the United States, with its subsidiary Keurig accounting for approximately 70% of sales ("Rivals Try to Loosen Keurig's Grip on Single-Serve Coffee Market," Chicago Tribune, February 26) . But Keurig's patent on K-cups, the plastic pods used to brew the coffee, is expected to expire this year, allowing other companies to better compete. Suppose a potential competitor has been conducting blind taste tests on its blend and finds that 47% of consumers strongly prefer its French Roast to that of Green Mountain Coffee Roasters. After tweaking its recipe, the competitor conducts a test with 144 tasters, of which 72 prefer its blend. The competitor claims that its new blend is preferred by more than 47% of consumers to Green Mountain Coffee Roasters' French Roast. What is the value of the appropriate test statistic to test this claim?

• A) t₁₄₃ = 0.721
• B) z = 0.721
• C) t₁₄₃ = 1.96
• D) z = 1.96

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Definitions:

Nature

The inherent characteristics or essence of something, often used in the context of the physical world or the environment.

Possessed

In a business context, this term is not typically used with a specific definition, so it might not be a real key term. NO.

Uncontrollables

External factors that a business cannot control or influence, such as economic conditions, competition, and government regulation.

Limitations

Constraints or restrictions that hinder progress or reduce the effectiveness of actions and strategies.