Question: If your state claims that more than a fourth of the advertised selling prices for your state are over $300,000, is this a valid claim using a significance level of 0.1?

To complete this activity, post a response to this topic that contains your answers to parts a-d below. Note: If your sample value (p-hat) does not support this claim, say so and then test the claim that less than a fourth of the advertised selling prices of homes for your state are over $300,000. Use \(\alpha \) = 0.1 significance level. Please type your state's name in the title box.

a) State the hypotheses to be tested using words or symbols.

b) State the critical value.

c) State the value of the test statistic.

d) State your decision and your conclusion in the context of this problem (selling prices) using the appropriate statistical terminology.