### Customer Satisfaction Survey AnalysisThe CEO of a large electric utility claims that at least 80 percent of his one million customers are very satisfied with the service they receive. A local newspaper surveyed 300 customers randomly. Seventy-three percent of them said they were very satisfied.#### Problem Statement:We need to determine the test statistic to verify the CEO's claim based on the survey conducted by the local newspaper.#### Key Information:- Claimed satisfaction rate by the CEO: 80% (or 0.80)- Sample size from the survey: 300 customers- Satisfaction rate from the survey: 73% (or 0.73)#### Calculation:- Use the formula for the test statistic in a proportion test: \[ z = \frac{\hat{p} - p_0}{\sqrt{\frac{p_0 (1 - p_0)}{n}}} \] where: - \(\hat{p}\) = sample proportion (0.73) - \(p_0\) = claimed proportion (0.80) - \(n\) = sample size (300)#### Instructions:Calculate the test statistic and round the answer to two decimal places. Ensure to write the answer in the appropriate format (e.g., 0.12 instead of .12).#### Input Box:The test statistic is [__________].

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The CEO of a large electric utility claims that at least 80 percent of his one million customers are very satisfied with the service they receive. A local newspaper surveyed 300 customers randomly. 73 percent said they were very satisfied. The test statistic is (Round answer to two decimal places. Do not write 0.12