Question: It is optional, those of you good at this stats stuff may want to look back at my week 2 lecture, near the end, proportions formula, and give this a try. The Proportions formula is used often, but we seem to run out of time to focus on it much here in class. Consider this extra credit-smile.

Tina Dennis is the comptroller for Meek Industries. She believes that the current cash-flow problem at Meek is due to the slow collection of accounts receivable. She believes that more than 60 percent of the accounts are in arrears more than three months. A random sample of 200 accounts showed that 140 were more than three months old. At the .05 significance level, can she conclude that more than 60 percent of the accounts are in arrears for more than three months?