Suppose a study is conducted to test the claim, at 0.01 significance level, that less than 75% of college students spend less than $250.00 per semester on textbooks. A survey of 650 students found that 73% 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)

Chose the correct 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.