• Suppose a brand of cereal claims that each box contains 7% marshmallows and 93% flakes.
• You believe that there are fewer than 7% marshmallows in each box.
• In a certain box, you randomly selected 600 pieces of cereal.
• Out of the 600 pieces of cereal, 29 pieces were marshmallows.

Assuming all conditions are met to perform a significance test, answer the following.

1. State the null and alternative hypothesis.
2. State the p-value.
3. Make a conclusion to reject or fail to reject the null at a 5% significance level.