Question 1010581
 To profitably produce a planned upgrade of a software product you make, you must charge customers $100. Are your customers willing to pay this much? You contact a random sample of 40 customers and find 11 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. Do the sample data give good evidence that more than 20% are willing to buy? 
Include the following elements in your test. 
Hypotheses (3 pts)
Ho: p <= 0.2
Ha: p > 0.2 (claim)
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p-hat = 11/40 = 0.275
test stat:: z(0.275) = (0.275-0.2)/sqrt[0.275*0.725/40] = 1.0632
p-value = P(z > 1.0632) = 0.1440
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Since the p-value is greater than 5%, fail ro reject Ho.
The test results do not support the claim.
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Cheers,
Stan H.
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