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Mortagage rate following are interest rates ( annual percentage rates) for a 30 year rate mortage from a sample of lender in Macon Georgia on
Mortagage rate following are interest rates ( annual percentage rates) for a 30 year rate mortage from a sample of lender in Macon Georgia on a recen day. It is reasonable to assume that the population is approximately normal
A) Construct a 99% confidence interval for the mean rate.
B) One week the mean rate was 4.050% A mortgage broker claims that the mean rate is now higher. Based on the confidence interval, is this a reasonable claim. Explaim.
4.750 | 4.375 | 4.176 | 4.679 | 4.426 | 4.227 |
4.125 | 4.250 | 3.950 | 4.191 | 4.299 | 4.415 |
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