A home improvement company is interested in improving customer satisfaction rate from the 60% currently claimed. The company sponsored a survey of 161 customers and found that 107 customers were satisfied. Determine whether sufficient evidence exists that the customer satisfaction rate is different than the claim by the company.

What is the test statistic z?

What is the p-value?

Does sufficient evidence exist that the customer satisfaction rate is different than the claim by the company at a significance level of =0.01?