Q:Question:In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a random sample of 24 recent loans is taken. The average calculated from this sample is 6.80%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.5%. Compute 95% and 99% confidence intervals for the population mean 30-year fixed mortgage rate. Use Table 1. Confidence level 99%. ProvideA:Answer:See a step by step answer