Question 1 The city economic development authority wants to determine whether the average income of families living within two miles of a proposed project exceeds $24,000. The average income of 60 randomly selected families living within two miles of the proposed site is $24,524 and the standard deviation is $963. Use 0.02 level of significance. A. State the null and the alternative hypotheses. B. Select the appropriate inference procedure and verify or state conditions for using it. Specify the rejection region. C. Calculate the value of the test statistic. D. State the test decision and conclusion