A business journal investigation of the performance and timing of corporate acquisitions discovered that in a random sample of 2,737 ?firms, 744 announced one or more acquisitions during the year 2000. Does the sample provide sufficient evidence to indicate that the true percentage of all firms that announced one or more acquisitions during the year 2000 is less 29?%? Use α=0.01 to make your decision.
1) What are the hypotheses for this? test?
2) Identify the rejection region for the test.
3) Is the null hypothesis rejected?