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According to data only 30% of Americans are saving for retirement in a 401(k). A random sample of 340 Americans was recently selected, and it

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According to data only 30% of Americans are saving for retirement in a 401(k). A random sample of 340 Americans was recently selected, and it was found that 115 of them made contributions to their 401(k) plans this year. Using a = 0.01, complete parts a through c. a. Using a = 0.01, perform a hypothesis test to determine if the percentage of Americans who have made contributions to their 401(k) plan is more than 30%. Let p be the population proportion. Determine the null hypothesis, Ho, and the alternative hypothesis, H,. Ho: p 5 0.30 H,: p > 0.30 (Type integers or decimals. Do not round.) b. Determine the p-value for this test and interpret its meaning. Identify the critical value. Za / 2 (Round to two decimal places as needed.)

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