In a random sample of 160 business school students, 72 sample members indicated some measure of agreement with this statement: Scores on a standardized entrance exam are less important for a student’s...

In a random sample of 160 business school students, 72 sample members indicated some measure of agreement with this statement: Scores on a standardized entrance exam are less important for a student’s chance to succeed academically than is the student’s high school GPA. Test the null hypothesis that one-half of all business school graduates would agree with this statement against a two-sided alternative. Find and interpret the p-value of the test.