Because of variability in the manufacturing process, the actual yielding point of a sample of mild steel subjected to increasing stress will usually differ from the theoretical yielding point. Let p denote the true proportion of samples that yield before their theoretical yielding point. If on the basis of a sample it can be concluded that more than 20% of all specimens yield before the theoretical point, the production process will have to be modified.
If 15 of 60 specimens yield before the theoretical point what is the P-value when the appropriate test is used, and what would you advise the company to do?