A large corporation needs no more than 60% of vacation days to be used during the months of June, July, and August in order to maintain proper staffing. They are concerned that too many vacation days are being used during the months June, July, and August. They decide to take a simple random sample of 40 vacation days and find that 76% of them were during the months of June July and August. Are the conditions for performing a hypothesis satisfied?

Preform an appropriate hypothesis test at the 5% significance level. Interpret the p-value computed in the test