- The probability computed
in Step 4 is compared to the significance level stated in Step 2. Since the
probability value (0.0214) is less than the significance level of
0.05, the effect is statistically significant.

- Since the effect is significant, the
null hypothesis is rejected. It is concluded that the proportion of
people choosing the original formulation is greater than 0.50.

- This result might be described in a
report as follows:
The proportion of subjects choosing the original formulation (0.62) was significantly greater than 0.50, z = 2.3, p = 0.021. Apparently at least some people are able to distinguish between the original formulation and the new formulation.