The sample size originally provided is insufficiently small. Using a larger sample of 200 customers, you conduct research and the data is now ready for analysis.

The following results were found:

1. Sample mean for price was $49.20 with a standard deviation of $4.60
2. Proportion who would purchase the new product was 62%

At least 75% of the customers must express some desire for the product. The customers who are interested in the product must be willing to pay at least $49.00.

Using this information, complete the following:

1. Conduct hypothesis tests for price and proportion.
2. Based on this updated data and the outlined parameters, should the new line be marketed? Explain Why or why not.
3. Show tables, charts, equations and calculations.