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.
In your initial post, answer the following questions:
- Is this enough evidence to persuade Callaway to enter the golf ball market?
- How would you make the decision if you were Callaway management? Would you use hypothesis testing?