A 99% confidence interval for the proportion (π) of all Lewisburg residents whose annual income exceeds $80,000 extends from 0.10 to 0.18. The confidence interval is based on a random sample of 150 Lewisburg residents. Using this information and a 1% level of significance, we wish to test the following hypotheses:
H0: π = 0.08
Ha: π (not =) 0.08
Based on the given information, what is the correct statistical decision in this case? Explain your recommendation.