A soft drink company has a new recipe for one of its products, and it would like to know if a majority of consumers of its drinks prefer the new recipe over the old recipe. The company plans to ask a representative sample of the popul ation to taste both drinks. The company will then measure the percent that prefer the new recipe. What would be the approximate margin of error for this percent if the company asks consumers? Median response time is 34 minutes and may be longer for new subjects. Operations Management.
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Mind on Statistics 5th Edition. Chapter Questions. Problem 5. Chapter 5, Problem 5. Textbook Problem. Want to see the full answer? Check out a sample textbook solution. See solution. Chapter 5.]
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