According to a local chamber of commerce in 1993, 5.9% of local area residents owned more than

Question:

According to a local chamber of commerce in 1993, 5.9% of local area residents owned more than 5 cars. A local car claims that the percentage has increased. He randomly select 180 local area residents and finds that 12 of them own more than 5 cars. Test the car dealers claim at the α = 0.05 level of significance. USE BINOMIAL THEOREM.
Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...