A company claims a 5% return rate for its product. A consumer advocacy group thinks the return rate is higher than 5%. A random sample of 400 customers revealed an observed return rate of 8.3%. The researchers found a P-value of 0.0005.

What is the value of the test statistic?

A.3.0 (correct)

B.3.0

C.0.0005

D.2.4

E.2.4

I looked through power points provided for the class and couldn't find it in the notes for that day.

Please show me the steps on how they got 3.0

thanks