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Suppose a study is conducted to test the claim, at 0.01 significance level, that less than 75% of college students spend less than $250.00 per semester on textbooks. A survey of 650 students found that 73% spent less than $250.00 per semester on text. Test the claim using the P-value method.
Determine the P-Value (Round to four decimal places as needed)
Chose the correct conclusion:
a. The study does provide sufficient evidence to support the claim that less than 75% of college student spend less than $250 per semester on textbooks.
b. The study does not provide sufficient evidence to support the claim that less than 75% of college students spend less than $250 per semester on textbooks.
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