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 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 α = .01? (b) Calculate the p-value. (c) Verify that the assumption of normality is justified.