Researchers studying the compulsive buying behavior (uncontrolled urges to buy) conducted a national survey in 2004 of adults ages 18 and over. Of the 60 adults sampled, 21 adults were judged to be compulsive buyers according to the Compulsive Buying Scale. The researchers want to determine if the true proportion of compulsive buyers in the nation is greater than 0.30.
Find the p-value for you test statistic. What conclusion can be drawn from the hypothesis test? Be sure to interpret the context. (Do not use software).