An FMCG company recently launched a new dairy product. A random sample of 40 customers who tasted the product were surveyed in order to estimate the popularity of this product. Each of these customers was asked to rate the product on a scale of 1 to 10, 10 being the best. The results of this survey appear in the Excel file.The product manager wants solutionspile.com

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An FMCG company recently launched a new dairy product. A random sample of 40 customers who tasted the product were surveyed in order to estimate the popularity of this product. Each of these customers was asked to rate the product on a scale of 1 to 10, 10 being the best. The results of this survey appear in the Excel file.

The product manager wants to estimate the proportion of the customers who rate the product at least 6; since she thinks that these are the customers who are likely to purchase the product if they are informed.

Use the data in the Excel file to calculate the 95% confidence interval for the estimated proportion to help her with this task. Interpret your results. (PLEASE ANSWER USING EXCEL FORMULAE)

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