One survey conducted by a major leasing company determined that the Lexus is the favorite luxury car for 25% of leases in Atlanta. Suppose a US car manufacturer conducts its own survey in an effort to determine if this figure is correct. Of the 384 leases in Atlanta surveyed, 79 lease a Lexus. Calculate the value of the test statistic. (Round to two decimal places) Answer

c. What is the p-value? (Round to four decimal places) Answer

d. At a 1% significance level, the decision is to

a. Specify the null and alternative hypotheses.