A human resources representative claims that the proportion of employees earning more than $50,000 is less than 40%. To test this claim, a random sample of 700 employees is taken and 305 employees are determined to earn more than $50,000.The following is the setup for this hypothesis test:{H0:p=0.40Ha:p<0.40Find the test statistic for this hypothesis test for a proportion. Round your answer to 2 decimal places.