Fancorp (a consulting firm) claims that "less than half of franchises are owned by husband-wife team." A simple random sample of 37 franchise owners shows that 12 are owned by husband-wife team. Can you confirm Fancorp's claim at α = 0.05? (Use p-value approach)
[Note: the hypothesis one wants to reject is usually the null hypothesis and the hypothesis one wants to conclude is usually the alternative hypothesis.]