A bank has data on 15 loan applicants. Data are available on each applicants total family assets, total family income, total debt outstanding, family size, number of years with present employer for household head, and a qualitative variable that equals 1 if the applicant has repaid the loan and 0 if he or she has not repaid the loan. Data are presented in the following Table. Carry out discriminant function analysis. The bank intends to use this function in classifying future loan applicants.

Assets - 98 65 22 78 50 21 42 20 33 57 8 0 12 7 15

income - 35 44 50 60 31 30 32 41 25 32 23 15 18 21 14

debt - 12 5 0 34 4 5 21 10 0 8 12 10 7 19 28

family size - 4 3 2 5 2 3 4 2 3 2 2 4 3 4 2

number of years with present employer - 4 1 7 5 2 7 11 3 6 5 1 2 4 2 1

repay/default - 1 1 1 1 1 1 1 1 1 1 0 0 0 0 0