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Q:Question: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
Q:Question: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 eight 48-month fixed-rate auto loans had the following loan rates (all written as percentages): [ 7.46 9.29 7.85 8.45 9.00 8.18 7.01 8.48 ] while a sample of five 48-month variable-rate auto loans had loan rates as follows: [ 7.33 7.70A:Answer:From the given data Fixed Rate: = 8.215, sf = 0.76...
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