4. There are 2 opportunities for purchasing a printing franchise in the City of Richmond in BC. One could open it in the north end of the city or the south end. Customers were surveyed about how much they would be willing to spend, and the results are given below: (6 marks are available for this question)

NORTH 395,405,414,379,520,490,400,340

SOUTH 380,400,400,382,525,450,390,360

Using the paired difference approach to hypothesis testing

a. What are the averages of North and South and the differences (1.5 marks)

b. What are the t-value and critical t-value (2 marks)

c. Explain your results and recommendations for investing (2.5 marks)