Need part 3 P value

Suppose a recent random sample of employees nationwide who have a401(k) retirement plan found that 16% of them had borrowed against it in the last year. A random sample of 118 employees from a local company who have a401(k) retirement plan found that 14 had borrowed from their plan. Based on the sampleresults, is it possible toconclude, at the =0.01 level ofsignificance, that the local company had a lower proportion of borrowers from its401(k) retirement plan than the 16% reportednationwide?

Identify the null and alternative hypotheses for this test. Let p be the population proportion of employees from the local company who borrowed against his or her401(k) retirement plan in the last year.

A.

H0: p<0.16

HA: p0.16

B.

H0: p=0.16

HA: p0.16

C.

H0: p0.16

HA: p>0.16

D.

H0: p0.16

HA: p<0.16

Your answer is correct.

Perform the test using a normal approximation. Identify the test statistic.

negative 1.23

1.23 (Round to two decimal places asneeded.)

Identify thep-value.

(Round to three decimal places asneeded.)