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The following values represent the population of home mortgage interest rates (in percents) being charged by the banks in a particular city: 3.3 3.5 4.5
The following values represent the population of home mortgage interest rates (in percents) being charged by the banks in a particular city:
3.3 | 3.5 | 4.5 | 4.0 | 4.3 |
3.9 | 3.8 | 4.1 | 4.2 | 3.7 |
- Given this information, what is the most extreme amount of sampling error possible if a random sample of n = 3 banks is surveyed and the mean loan rate is calculated?
a. | About -0.40 percent. | |
b. | About 0.13 percent. | |
c. | About 0.40 percent. | |
d. | Can't be determined without more information. |
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