Let me say upfront I do not know anything about PHP. I am being shown an error message by Wordpress when I try to install a plug in which says "Error. You need PHP 5.4.0 (or greater). Current php version: 5.2.17" How do I request GoDaddy upgrade my account to PHP 5.4.0(or greater)? Is this a big deal? Will it cause problems with the rest of my website?
If you don't see other php versions, you may need to upgrade from classic to web hosting. This can get complicated if you're in one of GoDaddy's older datacenters, I'd call hosting support before doing this.
If you're set to a newer version but your site is still running on php 5.2, you've got a setting in either your .htaccess or php5.ini causing it.