A student believes that less than 50% of students at his college receive financial aid. A random

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A student believes that less than 50% of students at his college receive financial aid. A random sample of 120 students was taken. Sixty-five percent of the students in the sample receive financial aid. Test the hypothesis at the 2% level of significance. What are the p-value and conclusion?

a. .50; Reject H0

b. .999; Do not reject H0

c. 3.29; Do not reject H0

d. .02; Reject H0

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