In 2013, Steve Lecompte, a stock market trader and analyst, did a study to see which TV personalities made the best predictions for future stock values. One person he looked at was Jim Cramer who is the host of Mad Money on CNBC. The study monitored a random sample of 678 of Jim Cramer’s stock predictions, such as if the value of a stock would increase or decrease, and found that 320 of his predictions were correct. Use a significance level of 0.05 and the p-value approach to test the claim: Jim Cramer is correct less than half the time. a) (6pts)State the null and alternative hypothesis in symbols. Give a sentence describing the alternative hypotheses
Null hypothesis: H0: p = 0.05
Alternative Hypothesis: Ha: p < 0.05
b) (4pts)Check the requirements of the hypothesis test

c) (3pts)Calculate the test statistic
d) (3pts)Calculate the p-value
e) (2pts)State the decision
f) (4pts)State the conclusion