Construct a 95% confidence interval for the proportion of red candies.
Using your same data determine if the proportion of green candies in a package of M&Ms is different than what is claimed by the company. List null and alternative hypothesis, the test-statistic and the p-value.
If you wanted to estimate the proportion of a certain color of candy to within 2% of the actual proportion, how many individual pieces of candy must you sample. Assume you want to be 90% confident in your results. How many packages of candy based on the total count of candies in your package would be required?
My bag contained: blue-5, brown-3, green-4, orange-5 red-1, yellow-3
MARS Company claims this color distribution by packet. blue-23% brown-12%, green 15%, orange 23%, red 12%, yellow 15%.
The solution provides step by step method for the calculation of testing of hypothesis, confidence interval and sample size. Formula for the calculation and Interpretations of the results are also included. Interactive excel sheet is included. The user can edit the inputs and obtain the complete results for a new set of data.