9.52 The recent default rate on all student loans is 5.2 percent. In a recent random sample of 300 loans at private universities, there were 9 defaults. (a) Does this sample show sufficient evidence that the private university loan default rate is below the rate for all universities, using a left-tailed test at =.01 ? (b) Calculate the p-value. (c) Verify that the assumption of normality of the sample proportion p is justified.

Asked to provide H0,H1, critical value, test statistic, reject/fail to reject decision in addition to what is asked for in the problem.