Question

As the new regional sales manager, you have been growing increasingly concerned about a possible decline in your company’s market share, despite increased sales over the past six months. Six months ago, a survey of retailers (all potential clients of your company) indicated 124 out of 423 retailers in your region turned to your company as its major supplier. A recent survey of 680 retailers indicated 204 retailers relied on your company as their primary supplier. Has market share declined precipitously over the past six months? Use the p-value approach and a = 10%. Do NOT solve this problem. Simply state the name of the statistical test or give the equation that you would use to answer this problem.

Answer 1