Environmental changes have recently been shown to improve firms’ competitive advantages. The approach is called the multiple-scenario approach. A study was designed to find the percentage of the Fortune top 1,000 firms that use the multiplescenario approach. The null hypothesis was that 30% or fewer of the firms use the approach. A random sample of 166 firms in the Fortune top 1,000 was chosen, and 59 of the firms replied that they used the multiple-scenario approach. Conduct the hypothesis test at α= 0.05. What is the p-value? (Do you need to use the finite-population correction factor?)

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