a paper included analysis of data from a national sample of 1000americans. you owe $3000 on your credit card. you pay a minimum payment of $30 each month. at an annual percentage rate of 12% or 1% per month, how many years would it take to eliminate your credit card debt if you made no additional charges?

answer options were a.) less than 5 years, b) between 5 to 10 years c) between 10 to 15 years d) never you will continue to be in debt e) don't know and f) prefer not to answer.

a. only 358 of the 1000 respondents chose the correct answer of never. assume that the sample is representative of adult americans. is there convincing evidence that the proportion of adult americans who can answer this question correctly is less than 0.40 (40%)? use the five step process for hypothesis testing HMC3 described in this section and a=0.05 to test the appropriate hypothesis.

find the test statistic and P value. m use table or SALT. round your test statistic to two decimal places and your P value to for decimal places.

b. the paper also reported that 37.1% of those in the sample chose one of the wrong answers a, b, c as their response to this question. is it reasonable to conclude that more than one-third adult americans would select a wrong answer to this question. use a=0.05. round your test statistic to two decimal places and your P value to four decimal places.

find the test static and P value. use table or SALT. round your test static to two decimal places and P value to four decimal places.