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A loan officer compares the interest rates for 48 -month fixed-rate auto loans and 48 -month variable-rate auto loans. Two independent, random samples of auto

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A loan officer compares the interest rates 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 five 48 -month varlable-rate auto loans had the following loan rates: 2.613.0702.87213.2413.151 While a sample of five 48 -month fixed-rate auto loans had loan rates as follows: 4.03213.8514.385t3.7514.161 B. Clickhere for the Excel Data File Means and Std Devlations (e) Use a hypothesis test to establish that the difference between the mean rates for fixed-and variable-rate 48 -month auto loans exceeds .4 percent. Use a equal to .05 . (Round your t answer to 4 decimal places and other answers to 1 decimal place.) (c) Figure 11.7 gives the p-value for testing the hypotheses you set up in part a. Use the p-value to test these hypotheses by setting a equal to 10,05,01, and .001 . How much evidence is there that the mean rates for 48 -month fixed-and variable-rate auto loans differ? (Round your answer to 4 decimal places.) (d) Calculate a 95 percent confidence interval for the difference between the mean rates for fixed-and variable-rate 48 -month auto loans. Can we be 95 percent confident that the difference between these means exceeds. 4 percent? (Round your answers to 4 decimal places.)

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