Ophelia O'Brien,VP of Consumer Credit of American First Banks (AFB),monitors $\alpha$

Ophelia O'Brien,VP of Consumer Credit of American First Banks (AFB) ,monitors the default rate on personal loans at the AFB member banks. One of her standards is "no more than 5% of personal loans should be in default." On each Friday,the default rate is calculated for a sample of 500 personal loans. Last Friday's sample contained 30 defaulted loans. Using $\alpha$ = 0.01,the appropriate decision is _______.

A) reject the null hypothesis p > 0.05
B) do not reject the null hypothesis p = 0.05
C) reject the null hypothesis $\mu$ > 30
D) do not reject the null hypothesis $\mu$ $\le$ 30
E) do nothing