An article claims that movie attendance in the U.S. has declined significantly since 2008, but that there is still a minority of adult Americans who prefer to watch movies at home rather than at a theater. A survey found that 53 out of 110 randomly selected adult Americans preferred to watch movies at home rather than at a movie theater. Do the results of this survey suggest that significantly less than half of the U.S. adult population prefer to watch movies at home rather than at a theater? Conduct this test using a 0.03 significance level.
1. What is the value for (symbol of p with a line over it)?
2. What is the value for the z-statistic?
3. What is the p-value?
Please show work or explain how the answer was found.