Single proportion testing, the p -value method
Suppose a study is conducted to test the claim at 0.01 significance level that less than 75 percent of college students spend less than $250.00 per semester on textbooks. A survey of 650 students found that 73 percent spent less than $250.00 per semester on text. Test the claim using the P-value method.
Determine the P-Value (Round to four decimal places as needed)
Choose the right conclusion
a. The study does provide sufficient evidence to support the claim that less than 75% of college student spend less than $250 per semester on textbooks.
b. The study does not provide sufficient evidence to support the claim that less than 75% of college students spend less than $250 per semester on textbooks.