Question: A university in the Northeast claims in its brochures that it has an acceptance rate of 60%. A sample of 300 high school seniors who applied to this university shows that 148 of them were accepted.

1. Set up the null and alternative hypotheses to test whether the acceptance rate is what the university claims.
2. At the 0.05 significance level, test the hypothesis.
3. Is there a need for the university to change its literature?

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