Use the Following Information to Answer the Question

Essay

Use the following information to answer the question. A manager at a large office supply store believes that her supply of pencils has a defect rate that is higher than the defect rate stated by the manufacturer. The manager's null hypothesis is that the supply of pencils has a defect rate of p = 0.025 (the pencil manufacturer's stated defect rate). Suppose we do a test with a significance level of 0.05. Symbolically, the null and alternative hypothesis are as follows: H₀: p = 0.025 and H_a: p > 0.025.
-The store manager calculates a p- value for the hypothesis test of 0.0030. Write a statement explaining what the p- value means and how it should be interpreted.