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 \(25 \% .^{6}\) 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.
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.
a. Exactly 150 consumers prefer a Pepsi product.
b. Between 120 and 150 consumers (inclusive) prefer a Pepsi product.
c. Fewer than 150 consumers prefer a Pepsi product.
d. Would it be unusual to find that 232 of the 500 consumers preferred a Pepsi
product? If this were to occur, what conclusions would you draw?