Field tests of a lowcalorie sport drink found that 80 of the 100 who tasted the beverage preferred it to the regular higher-calorie drink. A break-even analysis indicates that the launch of this produ...

Field tests of a lowcalorie sport drink found that 80 of the 100 who tasted the beverage preferred it to the regular higher-calorie drink. A break-even analysis indicates that the launch of this product will be profitable if the beverage is preferred by more than 75% of all customers.

(a)  State the null and alternative hypotheses.

(b)  Describe a Type I error and a Type II error in this context.

(c)  Find the-value for a test of the null hypothesis.  If, does the test reject?