The Manelli Perfume Company recently developed a new fragrance that they plan to market under the name 'Heavenly'. A number of market studies indicate that Heavenly has a very good market potential. However, the sales department is particularly interested in whether there is a difference in the proportion of younger and older women who would purchase Heavenly if it were marketed. A random sample of 100 young women revealed that 20 liked the Heavenly fragrance well enough to purchase it. Similarly, a sample of 200 older women revealed that 100 liked the fragrance well enough to make a purchase. Carry out a hypothesis test at the 1 percent level.
a) State the hypothesis.
b) Sketch and shade the rejection area.
c) Decision rule.
d) Test statistic.
e) Decision and managerial decision.
f) Calculate the p-value.
g) Interpret the hypothesis using the p-value.