A loan officer wishes to compare the interest rates being charged for 48-month fixed-rate auto loans and 48-month variable-rate auto loans. Two independent, random samples of auto loan rates are selected. A sample of eight 48-month fixed-rate auto loans had the following loan rates:
8.29% 7.75% 7.50% 7.99% 7.75% 7.99% 9.40% 8.00%
while a sample of five 48-month variable-role auto loans had loan rates as follows:
7.59% 6.75% 6.99% 6.50% 7.00%
Perform a nonparametric test to determine whether loan rates for 48-month fixed-rate auto loans differ from loan rates for 48-month variable-rate auto loans. Use α = .05. Explain your conclusion.