Answer:
<u><em>Null Hypothesis:</em></u>-H₀: P = 0.12
There is no difference between the percentage of volunteers selected from the college students.
<u><em>Alternative Hypothesis:</em></u>-H₁: P ≠ 0.12
There is a difference between the percentage of volunteers selected from the college students.
The calculated value Z = 0.5543 < 2.376 at 0.01 level of significance
The null hypothesis is accepted
There is a difference between the percentage of volunteers selected from the college students.
Step-by-step explanation:
<em>Step(i):-</em>
Given that the Population proportion P= 12% = 0.12
Given that the 331 randomly selected students who receive financial aid, 43 of them volunteered their time.
Sample proportion

<u><em>Step(ii):</em></u>-
<u><em>Null Hypothesis:</em></u>-H₀: P = 0.12
There is a difference between the percentage of volunteers selected from the college students.
<u><em>Alternative Hypothesis:</em></u>-H₁: P ≠ 0.12
There is no difference between the percentage of volunteers selected from the college students.
<u><em>Step(iii):</em></u>-
Test statistic


Z = 0.5543
Level of significance = 0.01
Critical value Z₀.₀₁ = 2.376
<u><em>Final answer</em></u>:-
The calculated value Z = 0.5543 < 2.376 at 0.01 level of significance
The null hypothesis is accepted
There is a difference between the percentage of volunteers selected from the college students.