A random sample of 1500 households shows that 1380 are


According to the mortgage banking firm Lomas & Nettleton, 95% of all households in the second half of last year lived in rental accommodations.

The company believes that lower interest rates for mortgages during the following period reduced the percentage of households living in rental units.

The company therefore wants to test H0: p ≥ 0.95 versus the alternative H1: p< 0.95 for the proportion during the new period. A random sample of 1,500 households shows that 1,380 are rental units. Carry out the test, and state your conclusion. Use an αof your choice.

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Basic Statistics: A random sample of 1500 households shows that 1380 are
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