Question: Suppose that you wish to test a manager’s claim that the proportion of defective items generated by a particular production process has decreased from its long run history value of 0.30. To carry out this test, you obtain a random sample of 300 items produces through this process. Computer-generated output indicates that the p-value for the sample is 0.01. Carefully interpret this p-value. At what levels of significance would you reject the null hypothesis?