The director of admissions of a distinguished (i.e., top-20) MBA program is interested in studying the proportion of entering students in similar graduate business programs who have achieved a composite score on the Graduate Management Admissions Test (GMAT) in excess of 630. In particular, the admissions director believes that the proportion of students entering top-rated programs with such composite GMAT scores is now 50%. To test this hypothesis, he has collected a random sample of MBA candidates entering his program in the fall of 1998. He believes that these students’ GMAT scores are indicative of the scores earned by their peers in his program and in competitors’ programs. The GMAT scores for these 25 individuals are given in the file P10_11.XLS. Test the admission director’s claim at the 5% significance level and report your findings. Does your conclusion change when the significance level is increased to 10%?