Income Location ($1000) Urban 54 Rural 30 Suburban 32 Suburban 50 Rural 31 Urban 55 Rural 37 Urban 40 Suburban 66 Urban 51 Urban 25 Urban 48 Rural 27 Rural 33 Urban 65 Suburban 63 Urban 55 Urban 21 Rural 44 Urban 37 Suburban 62 Urban 21 Suburban 55 Rural 42 Urban 41 Suburban 54 Rural 30 Urban 48 Urban 34 Suburban 67 Rural 50 Urban 67 Urban 55 Urban 52 Urban 62 Urban 64 Suburban 22 Urban 29 Suburban 39 Rural 35 Urban 39 Suburban 54 Suburban 23 Rural 27 Urban 26 Suburban 61 Rural 30 Rural 22 Size 3 2 4 5 2 2 1 2 4 3 3 4 1 2 3 4 6 2 1 5 6 3 7 2 7 6 1 2 5 4 2 5 6 2 3 2 3 4 2 1 4 3 6 2 7 2 2 4 Years 12 12 17 14 4 9 20 7 10 16 11 16 19 12 12 13 15 18 7 5 13 16 15 19 18 14 14 8 5 13 11 1 10 11 2 6 18 4 18 11 15 9 18 1 17 14 14 16 Credit Balance ($) 4,016 3,159 5,100 4,742 1,864 4,070 2,731 3,348 4,764 4,110 4,208 4,219 2,477 2,514 4,214 4,965 4,412 2,448 2,995 4,171 5,678 3,623 5,301 3,020 4,828 5,573 2,583 3,866 3,586 5,037 3,605 5,345 5,370 3,890 4,705 4,157 3,899 3,890 2,972 3,121 4,183 3,730 4,127 2,921 4,603 4,273 3,067 3,074 Suburban Suburban Rural Urban Suburban Urban Suburban 46 66 53 44 74 25 66 5 4 1 6 7 3 7 13 20 7 5 12 15 14 4,820 5,149 2845 3962 5394 3442 5036 PROJECT PART B Reliable Housewares is a local store that sells many household items and issues its own credit card to its customers. The store manager wants to study the purchasing behavior of its "credit" customers. To that end, he has come to DeVry and asked our MBA students for help. The manager has brought with him data on five variables of 50 randomly selected credit customers. LOCATION (Rural, Urban, Suburban - Household location of the credit customer) INCOME (in $1,000's - be careful with this) SIZE (Household Size - number of people living in the household of credit customer) YEARS (the number of years that the customer has lived in the current location) CREDIT BALANCE ($ balance on customer's store credit card) Hypothesis Testing and Confidence Intervals The Reliable Housewares store manager wants to learn more about the purchasing behavior of its "credit" customers. In fact, he is speculating about four specific cases shown below (a) through (d) and wants you to help him test their accuracy. a. The average annual income of credit customers is less than $50,000. b. The true population proportion of credit customers who live in an urban area exceeds 40%. c. The average number of years lived in the current home is less than 13 years. d. The average credit balance for suburban customers is more than $4,300. i. ii. iii. iv. v. vi. Using the dataset provided in DocSharing, perform the hypothesis test for each of the above speculations (a) through (d) in order to see if there is an statistical evidence to support the manager's belief. In each case, use the Seven Elements of a Test of Hypothesis, in Section 6.1 of your textbook (on or about Page 324). Use =5% for all your analyses. Explain your conclusion in simple terms. Also be sure to indicate which hypothesis is the \"claim\