The two things that Michael Westen loves most of all are yogurt and promoting active, well-informed consumerism. Michael is concerned that the percentage of people who eat yogurt is too low. Specifically, Michael is convinced that the percentage of people who eat yogurt regularly is less than 40%. Determined to test this theory, he surveys a simple random sample of 340 people and finds that 120 people in this sample eat yogurt regularly. (a) State the two formal hypotheses to test Michael's theory. (b) Calculate the test statistic and p-value, clearly indicating the type of test statistic to use.