In: Statistics and Probability
For the movie, CATS, the manufacturer of Rice Krispies placed mini cat figurines in some of its cereal boxes. The company claimed that a figurine was paced in 1 out of every 4 boxes. A group of CATS memorabilia collectors suspects that the actual proportion of boxes that contain a figurine is less than 0.25. The group purchased 80 boxes of Rice Krispies and found 14 cat figurines. Assuming the 80 boxes represent a random sample of all Rice Krispies boxes, is there convincing evidence to support the collectors' belief that the proportion of boxes containing figurines is less than 0.25? Provide statistical evidence to support your claim. (make sure to show the 4 steps!)