Question

The ABC company's brand has a market share of 30%. Suppose that in a survey, 800 consumers of the product are asked which brand they prefer. What is the probability that more than 32% of the respondents say they prefer ABC's brand?

Answer 1

Answer: 0.68

Explanation:

given data:

ABC market share = 30%

number of customers surveyed = 800

probability that more than 32% prefers ABC

Solution:

32% of 800

= 256 persons

p ( x ≥ 256 )

= 1 - ( 256/800 )

= 1 - 0.32

= 0.68

the probabiliy that more than 32% of those who carried out the survey would prefer ABC brand is 0.68.