The CEO of a large electric utility claims that 80 percent of his 1,000,000 customers are very satisfied with the service they receive. To test this claim, the local newspaper surveyed 100 customers,...

The CEO of a large electric utility claims that 80 percent of his 1,000,000 customers are very satisfied with the service they receive. To test this claim, the local newspaper surveyed 100 customers, using simple random sampling. Among the sampled customers, 73 percent say they are very satisfied. Based on these findings, can we reject the CEO's hypothesis that 80% of the customers are very satisfied? Use a 0.05 level of significance.