A dance studio is trying to find out if opening another location is a good idea. They need 3.5% of eligible people to go in sign up for dance lessons for the new location to be profitable. They survey 100 people and find that 10% indicate they would go. The company knows that historically, the actual number of people that sign up for dance lessons is 50% of those that commit to go in surveys.
At a 95% confidence level, should they go forward with the opening the new location?