Consider a situation where people are asked to rate a product on a scale of 1 to 5.
Product A has a rating of 3.95 based on 15,000 ratings. Product B has a rating of 4.2 based on 1000 ratings.
From the data given, can we determine which product is the preferred one? Is there a direct formula to solve problems of this type? Can anyone explain in layman's terms?