A motor vehicle insurance advisor stated recently in a newspaper report that more than 60% of Cape Town motorists do not have motor vehicle insurance. A random survey amongst 150 motorists found that 54 do have motor vehicle insurance.
(a) Is the motor vehicle insurance advisor's claim valid? Formulate the null and alternative hypothesis and conduct a hypothesis test for a single proportion, using α = 0.05.
(b) Use the NORMSDIST function in Excel to compute the p-value of the test statistic. Interpret its value in terms of the insurance advisor's claim.