A manufacturer wanted to improve on the processes used to produce electrical components. At the beginning of the year, the factory randomly examined 9,000 electrical components, and of these a total of 900 components were rejected after a quality-control inspection. A project was deployed to fix the problem. Following the project, 7,000 components were randomly picked to be examined. Of these, a total of 600 were rejected. Did the project intervention improve the process?

Test at the 2% significance level whether the population proportion of rejected components decreased after the project compared to the population proportion prior to the project. Formulate and test the appropriate hypotheses. Use the p-value approach. Be sure to clearly state and explain your conclusion within the context of the question.