Question 3 (36 Marks) Use the shirts data set given in Q2 to answer the following questions a. Test the hypothesis that average population income level of city where the stores are located is less than $78000? Conduct an appropriate test with a significance level of 1%. Show all steps, including clearly stating the assumptions (if any), hypotheses, calculations, and conclusion. (8 Marks) b. Is there a positive rank correlation between the local advertising budget (Advertising variable) and the unit sales (Sales variable)? Conduct an appropiate test with a significance level of 1%. Show all steps, including clearly stating the assumptions (if any), hypotheses, calculations, conclusion (in words) and reasoning. (12 Marks) C. Is there a significant difference in the population standard deviation of the price charged by local competitor (CompPrice) and the price charged by the store (Price) at 5% level of significance? (8 Marks) d. Is the average price charged by local competitor is more than the price charged by the store? (8 Marks) Conduct an appropiate test with a significance level of 1%. Show all steps, including clearly stating the assumptions (if any), hypotheses, calculations and conclusion (in words)