Members of the millennial generation are continuing to be dependent on their parents (either living with or otherwise receiving support from parents) into early adulthood. In July 2020, during the pandemic, 52% of millennials were living in their parents' home, up from 47% in February, according to the Pew analysis of Census Bureau data, surpassing the previous high hit in 1940, when 48% of young adults lived with their parents. Suppose that a sample of 400 individuals aged 18 to 32 showed that 240 of them continue to be dependent on their parents.

a. Develop hypothesis for a test to determine whether the proportion of millennials continuing to be dependent on their parents is higher than the past generations since July of 2020? (This is a formula.)

b. What is your point estimate of the proportion of millennials that are continuing to be dependent on their parents? (Show work.)

c. What is thep-value provided by the sample data? (Show work.)

d. What is your hypothesis testing conclusion? Usea= .05 as the level of significance.