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Hypothesis Testing

For many years, TV executives used the guideline that 30 percent of the audiences were watching each of the prime-time networks and the 10 percent were watching cable stations on a weekday night. A random sample of 500 viewers in the Tampa - St. Petersburg, Florida area last Monday night showed that 165 homes were turned in to the ABC affiliate, 140 to the CBS affiliate, and the remainders were viewing a cable station.
At a .05 level of significance, can we conclude the guidelines are still reasonable?