The television networks often compete on the evening of the day of an election to be the first to identify the winner of the election correctly. One of the techniques often used is the random sampling of voters as they exit the polling booths. Suppose that, in a two-candidate race, 55% of a random sample of 500 voters indicate that they voted Republican.
Can we conclude at the 5% level of significance that the Republican candidate will win? State your answer in non-technical terms.