(Solved): Please give detailed explanation on how to get this p-value. Ten years ago \ ...

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Please give detailed explanation on how to get this p-value.

Ten years ago \( 53 \% \) of American families owned stocks or stock funds. Sample data collected by the Investment Company Institute indicate that the percentage is now \( 48 \% \). (a) Choose the appropriate hypotheses such that rejection of \( \mathrm{HO} \) will support the conclusion that a smaller proportion of American families own stocks or stock funds this year than 10 years ago. HO: p \( H_{a}: p \) (b) Assume the Investment Company Institute sampled 300 American families to estimate that the percent owning stocks or stock funds is \( 48 \% \) this year. What is the \( p \) value for your hypothesis test? If required, round your answer to four decimal places. Do not round your intermediate calculations. (c) At \( a=0.01 \), what is your conclusion? We the null hypothesis. We conclude that a smaller proportion of American families own stocks or stock funds this year than they did 10 years ago.