(Solved): 0 Two of the biggest soft drink rivals, Pepsi and Coke, are very concerned abo ...

???????0

Two of the biggest soft drink rivals, Pepsi and Coke, are very concerned about their market shares. The pie chart that follows claims that PepsiCo's share of the beverage market is \( 24 \% \). Assume that this proportion will be close to the probability that a person selected at random indicates a preference for a Pepsi product when choosing a soft drink. U.S. Refreshment Beverage Category Share A group of \( n=500 \) consumers is selected and the number preferring a Pepsi product is recorded. Use the normal curve to approximate the following binomial probabilities. (Round your answers to four decimal places.) (a) Exactly 120 consumers prefer a Pepsi product. (b) Between 110 and 120 consumers (inclusive) prefer a Pepsi product. (c) Fewer than 120 consumers prefer a Pepsi product. (d) Would it be unusual to find that 278 of the 500 consumers preferred a Pepsi product? Yes No If this were to occur, what conclusions would you draw? Pepsi's market share estimate is accurate. Pepsi's market share is higher than claimed. Pepsi's market share is lower than claimed.