A sample of $1500$

computer chips revealed that $71\%$

of the chips fail in the first $1000$

hours of their use. The company's promotional literature claimed that under $74\%$

fail in the first $1000$

hours of their use. Is there sufficient evidence at the $0\mathrm{.}05$

level to support the company's claim?

State the null and alternative hypotheses for the above scenario.