A marketing research consultant hired by Coca Cola is interested in determining if the proportion of customers who prefer Coke to other brands is over 50 %. A random sample of 200 customers was selected from the market under investigation, 55 % favored Coca Cola over the other brands. Additional information is presented below:

Sample proportion 0.55

Standard error of sample 0.03518

Z test statistic 1.4213

p-value 0.07761

Using a 10% significance level, can the marketing consultant conclude that the proportion of customer who prefer Coca- Cola exceeds 50%? Explain your answer.