3. Profitable Upgrade? Your company must charge $100 for a software upgrade to make a profit on its development. You must find out if your customers are willing to pay this much. A random sample of 160 customers finds that 45 would pay $100 for the upgrade. If the upgrade is to be profitable, you will need to sell it to more than 20% of your customers. Does the sample data provide good evidence that more than 20% are willing to buy at the 5% level of significance? a) State the appropriate null and alternative hypotheses. Explain how you decided the alternative. b) Give the z statistic and its p-value for this test. c) Should you proceed with plans to develop and market the upgrade? Explain in context of this hypothesis test. X English (United States) Focus E -c) Should you proceed with plans to develop and market the upgrade? Explain in context of this hypothesis test. d) Give the 90% condence intenral for the proportion of all customers willing to pay $100.00 for the upgrade. Explain how this supports your hypothesis test conclusion. e) Your company's overseas division also took a random sample of 50 customers and found that 39 would pay the $100.00 upgrade. Emlain (Use Principal 2} why or why not these two populations are different. 3 English [United States) :1 Focus E E