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Is this enough evidence to persuade callaway to enter the

Question:Evidence

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.

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?

REFERENCE

Albright, S. C, & Winston, W. L. (2017). Business Analytics: Data Analysis and Decision Making (6th ed.). Boston, MA: Cengage Learning

Chapter 7: Sampling and Sampling Distributions

Chapter 8: Confidence Interval Estimation

Chapter 9: Hypothesis Testing

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