Question: (6 points) To be accepted into Stanford's Graduate Business School, a candidate must pass a four hour written entrance exam called the SBSE. Ajax Prep Company offers an expensive study course to prepare a person for this exam. Ajax makes the claim that 80% of the students who finish their course pass the SBSE. Someone who works for a government agency that thinks Ajax's claim is exaggerated and that their true percentage of alumni who pass the SBSE is somewhat lower than 80%. The government worker collects a random sample of 64 students who finished Ajax's course and determines that 43 of them passed the SBSE. Carry out a hypothesis test to see if there is evidence against Ajax's claim. Using the 5% level of statistical significance, is there evidence to suggest that the percentage is lower than Ajax claims?

Using plain language, interpret your statistical decision.