A cellphone provider has the business objective of wanting to determine the proportion of subscribers who would upgrade to a new cellphone with improved features if it were made available at a substantially reduced cost. Data are collected from a random sample of 500 subscribers. The results indicate that 124 of the subscribers would upgrade to a new cellphone at a reduced cost. Reducing the price will be profitable if at least 20% of the subscribers would upgrade. Complete parts​ (a) and​ (b) below.

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