Consider the Following to Answer the Question(s) Below

question 2

Multiple Choice

Consider the following to answer the question(s) below:
Winnipeg Pet Plus believes that it has a market share of 25 percent of the local dog food market. It surveys 100 dog owners and ask whether or not it is their regular source of dog food, and 23 people say yes.
-At α = 0.05

• A) We cannot conclude that the percentage of customers who buy their dog food regularly at Winnipeg Pet Plus is significantly different from 25%.
• B) We can conclude that the percentage of customers who buy their dog food regularly at Winnipeg Pet Plus is equal to 25%.
• C) We can conclude that the percentage of customers who buy their dog food regularly at Winnipeg Pet Plus is significantly lower than 25%.
• D) We cannot conclude that the percentage of customers who buy their dog food regularly at Winnipeg Pet Plus is significantly lower than 25%.
• E) We can conclude that the percentage of customers who buy their dog food regularly at Winnipeg Pet Plus is not significantly lower than 25%.

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Definitions:

Sales Budget

A detailed plan outlining the expected revenues from the sale of products or services over a specific period, serving as a roadmap for the company's sales strategy and performance expectations.

Finished Goods Inventory

The stock of completed products that are ready to be sold by a manufacturing company.

Sales Forecast

An estimation of the future sales of a product or service, based on historical sales data, market trends, and economic factors, crucial for planning and budgeting.

Production Units

A measure of output from a production process, quantified in units.