A certain university claims that at least 60% of its graduates obtain jobs paying more

than $50,000/year immediately upon graduation. You take a random sample of 8

percent graduates from this university and find that only 1 of these 8 people actually

made over $50,000 upon graduation. Use these data and the Binomial Test to test

the null hypothesis that the university's claim is true, vs. the alternative that the

proportion making over $50,000/year is <60% (Use = 0.05).