A gym financial controller believes that the gym’s current cashflow problem is due to the slow collection of membership fees.Suppose the financial Comptroller believes that 70% of the fees arein arrears by more two months. A random sample of 150 accountsshowed that 110 memberships were more than two months in arrears.At the significance level of 0.01, can the Comptroller concludethat more than 70% of the fees are in arrears for more than twomonths?

Test the claim by answering following questions:

State the null and alternative hypotheses and label yournumbers.
Describe your test, is it an upper z (or t) tailed-test, a lower z(or t) tailed-test, or a two-tailed z (or t) test?
Calculate the test statistic, OR the p-value OR the confidenceinterval.
State the decision rule and make sure to use the criticalvalues.
Make a decision, i.e., interpret your results in part (d