The Ministry of Health is concerned that the average percentage mark-up on a particular vitamin product is more than 40%. To test their concern, they sampled 76 pharmacies that sell the product, and found that the mean percentage mark-up was 44.1%. Assume that the population standard deviation of the percentage markup is 14.7%. Required: (a) What is the appropriate test statistic for this management scenario? Why? (3 marks) (b) Formulate the null and alternative hypothesis for this test situation. (3 marks) (c) Conduct an appropriate statistical test at the 1% level of significance to determine whether the Ministry of Health's concern is justified. What conclusion can be drawn from the findings