A direct mail appeal for contributions from a university’s alumni and supporters is considered to be too costly if less

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A direct mail appeal for contributions from a university’salumni and supporters is considered to be too costly if less than 26 % of the alumni and supporters provide monetarycontributions. To determine if a direct mail appeal is costeffective, the fundraising director sends the direct mail brochuresto a simple random sample of 178 people on the alumni andsupporters mailing lists. They receive monetary contributions from37 people. Does this evidence demonstrate that the direct mailcampaign is not cost effective? Use a 0.02 level of significance.Step 2 of 3 : Compute the value of the test statistic. Round youranswer to two decimal places.