Mortgage Rates Following Are Interest Rates Annual Percentage Rates For A 30 Year Fixed Rate Mortgage From A Sample O 1 (38 KiB) Viewed 36 times
Mortgage rates: Following are interest rates (annual percentage rates) for a 30-year fixed rate mortgage from a sample of lenders in Macon, Georgia for one day. It is reasonable to assume that the population is approximately normal. 4.751 4.373 4.177 4.676 4.425 4.228 4.125 4.251 3.951 4.192 4.291 4.414 Send data to Excel Part: 0 / 2 Part 1 of 2 (a) Construct a 98% confidence interval for the mean rate. Round the answer to at least four decimal places. A 98% confidence interval for the mean rate is <μ< X Espa
(b) One week earlier, the mean rate was 4.0941%. A mortgage broker claims that the mean rate is now higher. Based on the confidence interval, is this a reasonable claim? Explain. It (Choose one) ▼ a reasonable claim. is is not
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