Bank officers are considering targeting young parents with an offer to start a college savings plan. They have decided to pursue this new marketing program only if at least 30 percent of such parents might be interested in this kind of plan. They surveyed 250 randomly selected parents, of whom 38 percent indicated some interest. A hypothesis test will be used to determine whether the data provide convincing statistical evidence that more than 30 percent of parents would be interested in the savings plan. Required:
What is the test statistic for the appropriate test?