According to the Association of American Medical Colleges, only 42% of medical school applicants were admitted to a medical school in the fall of 2013. Upon hearing this, the trustees of Striving College expressed concern that only 34 of the 81 students in their class of 2013 who applied to medical school were admitted. The college president assured the trustees that this was just the kind of year-to-year fluctuation in fortunes that is to be expected and that, in fact, the school's success rate was consistent with the national average. Who is right?
a) What are the hypotheses?
b) Check the conditions and find the P-value.
c) Are the trustees right to be concerned, or is the president correct? Explain.