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We wish to test the hypotheses H0: p=0.5 versus Ha: p<0.5 at a 1% level of...

We wish to test the hypotheses H0: p=0.5 versus Ha: p<0.5 at a 1% level of significance. Here, p denotes the fraction of registered voters who support a proposed tax for road construction. In order to test these hypotheses a random sample of 500 registered voters is obtained. Suppose that 240 voters in the sample support the proposed tax. Calculate the p-value. Do not included a continuity correction in the calculation.

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