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Has the proportion of high school seniors who believed "getting rich" was important changed?

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A decade-old study found that the proportion, of high school seniors who believed that "getting rich" was an important personal goal was 70% . A researcher decides to test whether or not that percentage still stands. He finds that, among the 240 high school seniors in his random sample, 184 believe that "getting rich" is an important goal. Can he conclude, at the .05 level of significance, that the proportion has indeed changed?

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This solution provides step by step calculations and explanation for testing the population proportion in 386 words, formatted an attached Word document.

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