More than half of all residents would prefer tolls on all motorways to be reduced by 25 cents, rather than receiving a $100 lower annual registration cost for their cars. Also assume that this was based on a poll where 562 of 1,040 participants indicated that they would rather have the reduced motorway tolls.

(a) Is there evidence that more than half of residents would rather have motorway tolls reduced by 25 cents than have their annual car registration lowered by $100. Justify with a hypothesis test at the 5% significance level.