A middle school student claims that they can do the bottle flip trick and have it land on its base and stay standing a majority of the time. You bet them lunch that they can't. The student then performs 250 flips, 140 landed perfectly on the base and stayed upright. Is this convincing evidence that the student's claim is correct? Use a =0.01 level of significance.

Determine the p-value (round to four decimal places) shall we (reject or fail to reject) the null hypothesis and conclusion