A research analyst conducts a hypothesis test to check if the average return on a particular stock is statistically greater than 8%. The null hypothesis ($H_0$) posits that the average return $ heta$ is equal to 8%, i.e., $H_0: heta = 0.08$. The alternative hypothesis ($H_1$) posits that the average return is greater than 8%, i.e., $H_1: heta > 0.08$. After collecting data from a sample of 50 returns, the analyst computes a test statistic of $z = 2.33$. The significance level for the test is set at $eta = 0.05$.
What is the P-value associated with this test statistic, and what conclusion can be drawn based on the significance level?