Answer:
Null Hypothesis:-H₀: P = 0.12
There is no difference between the percentage of volunteers selected from the college students.
Alternative Hypothesis:-H₁: P ≠ 0.12
There is a difference between the percentage of volunteers selected from the college students.
The calculated value Z = 0.5543 < 2.376 at 0.01 level of significance
The null hypothesis is accepted
There is a difference between the percentage of volunteers selected from the college students.
Explanation:
Step(i):-
Given that the Population proportion P= 12% = 0.12
Given that the 331 randomly selected students who receive financial aid, 43 of them volunteered their time.
Sample proportion

Step(ii):-
Null Hypothesis:-H₀: P = 0.12
There is a difference between the percentage of volunteers selected from the college students.
Alternative Hypothesis:-H₁: P ≠ 0.12
There is no difference between the percentage of volunteers selected from the college students.
Step(iii):-
Test statistic


Z = 0.5543
Level of significance = 0.01
Critical value Z₀.₀₁ = 2.376
Final answer:-
The calculated value Z = 0.5543 < 2.376 at 0.01 level of significance
The null hypothesis is accepted
There is a difference between the percentage of volunteers selected from the college students.