A hypothesis test uses a random sample to test H0:p=0.40H_0:p=0.40H0:p=0.40 against H1:p<0.40 H_1:p<0.40\,H1:p<0.40 at the 5% level of significance.
State what the population parameter p p\,p represents.
Explain why the sample, rather than the whole population, is used to make the decision.
Explain what the 5% level of significance means in this test.