A human resources representative claims that the proportion of employees earning more than $50,000 is less than 40%. To test this claim, a random sample of 700 employees is taken and 305 employees are determined to earn more than $50,000. The following is the setup for this hypothesis test: H0:p=0.40 Ha:p<0.40 Find the p-value for this hypothesis test for a proportion and round your answer to 3 decimal places. The following table can be utilized which provides areas under the Standard Normal Curve:   z 0.00 0.01 0.02 0.03 0.04 0.05 0.06 0.07 0.08 0.09 1.5 0.933 0.934 0.936 0.937 0.938 0.939 0.941 0.942 0.943 0.944 1.6 0.945 0.946 0.947 0.948 0.949 0.951 0.952 0.953 0.954 0.954 1.7 0.955 0.956 0.957 0.958 0.959 0.960 0.961 0.962 0.962 0.963 1.8 0.964 0.965 0.966 0.966 0.967 0.968 0.969 0.969 0.970 0.971 1.9 0.971 0.972 0.973 0.973 0.974 0.974 0.975 0.976 0.976 0.977 2.0 0.977 0.978 0.978 0.979 0.979 0.980 0.980 0.981 0.981 0.982

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2-Proportion Test

In a 2-proportion test, two separate proportions are measured at the same time, and their similarity is evaluated. It is also known as a 2-proportion z-test, and a comparison of two different proportions is done in this method.