Solution :
a). The test is a left tailed test.
b). The sample proportion is :
= 0.065
Determining the Z statistics using the formula :
= -2.31
∴ Z statistics value is -2.31
c). Using the excel function, the P-value is :
P-value = Normsdist(-2.31)
= 0.0104441
d). The null hypothesis is
The level of significance is 0.01
We fail to reject the null hypothesis as the P value is less than or equal to the significant level.