Question $7$ of $9,$ Step $3$ of $3$

Correct

A direct mail appeal for contributions from a university's alumni and supporters is considered to be too costly if less than $25\%$ of the alumni and supporters provide monetary contributions. To determine if a direct mail appeal is cost effective, the fundraising director sends the direct mail brochures to a simple random sample of $241$ people on the alumni and supporters mailing lists. They receive monetary contributions from $49$ people. Does this evidence demonstrate that the direct mail campaign is not cost effective? Use a $0\mathrm{.}02$ level of significance.

Step $3$ of $3$: Draw a conclusion and interpret the decision.