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The manager claims that the defective item proportion has decreased from its normal value of 0

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The manager claims that the defective item proportion has decreased from its normal value of 0.03%. To test his claim, you obtain a random sample of 300 items produced by this process and run the appropriate statistical method. The test indicates a p-value of 0.01. What are the null and the alternative hypotheses to test the manager's claim? What exactly the p—value is telling you? At what levels of significance (or con?dence level) can you reject the null hypothesis. Please write in a clear and concise manner]