Question: Callaway is thinking about entering the golf ball market. The company will make a profit if its market share is more than 20%. A market survey indicates that 140 of 624 golf ball purchasers will buy a Callaway golf ball.
a. Is this enough evidence to persuade Callaway to enter the golf ball market?
b. How would you make the decision if you were Callaway management? Would you use hypothesis testing?