Prep-Work Problem 12.5

Company X is interested in improving its compliance with internal control procedures. During 20X1, Company X determined that compliance with internal control procedures was 92%. On December 31, 20X2, Company X took a random sample of 165 instances where internal controls should have been followed and determined that internal controls were followed 153 times. Can Company X conclude (at the .05 significance level) that the level of compliance with internal control procedures increased in 20X2?

More importaint then the answer, make sure to show all the work and explain how you got the answer.

P value is .3707.