Following is a small-sample of interest rates (annual percentage rates) for a 30-year fixed-rate mortgage from a sample

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Following is a small-sample of interest rates (annual percentage rates) for a 30-year fixed-rate mortgage from a sample

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Following Is A Small Sample Of Interest Rates Annual Percentage Rates For A 30 Year Fixed Rate Mortgage From A Sample 1
Following Is A Small Sample Of Interest Rates Annual Percentage Rates For A 30 Year Fixed Rate Mortgage From A Sample 1 (31.11 KiB) Viewed 25 times
Following is a small-sample of interest rates (annual percentage rates) for a 30-year fixed-rate mortgage from a sample of lenders in Macon, Georgia, on a recent day. It is reasonable to assume that the sample comes from a population that is approximately normal. 4.750 4.375 4.176 4.679 4.426 4.227 4.125 4.250 3.950 4.1914.299 4.415 (a) Construct a 98% confidence interval for y, the mean rate. (b) One week earlier, 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? Explain.
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