2 A Mortgage Specialist Would Like To Analyze The Average Mortgage Rates For Atlanta Georgia He Collects Data On The P 1 (56.36 KiB) Viewed 23 times
2 A Mortgage Specialist Would Like To Analyze The Average Mortgage Rates For Atlanta Georgia He Collects Data On The P 2 (45.33 KiB) Viewed 23 times
2 A Mortgage Specialist Would Like To Analyze The Average Mortgage Rates For Atlanta Georgia He Collects Data On The P 3 (35.33 KiB) Viewed 23 times
2 A mortgage specialist would like to analyze the average mortgage rates for Atlanta, Georgia. He collects data on the percentage rates (APR in for 30 year fixed loans as shown in the following table. he is willing to me that these rates are randomly drawn from a normally distributed population, can he conclude that the mean mortgage rate for the population exceeds 4.30%? Test the hypothesis at a 5% level of significance. G Squared Pinancial Best Possible Mortgage Harsch Pinancial Group Total Mortgages Services Wells Fargo Quicken Loans Amarisave 4.490 4.475 4.410 4.230 4.885 4.350 4.520 Source: MSN Money.com; data retrieved October 1, 2010. . Select the null and the alternative hypotheses. Hot N 2 4.30; FA: p < 4.30 O No: 2 4.30; : > 4.30 O: y = 4.30; BA: 4.30 Eulate the value of the test statistic. (Round intermediate calculations to at least 4 decimal places and final answer al places.) < Prey 22 of 25 Next
1. Calculate the value of the test stastic (Round intermediate calculations to at least 4 decimal places and final awwer to 2 decimal places) 224 c. Find the p-value. (Round final answer to 3 decimal places.) p-value d. What is the conclusion? O Reject Ho since the p-value is greater than significance level. Reject Ho since the p-value is smaller than significance level. O Do not reject Ho since the p-value is greater than significance level. O Do not reject H, since the p-value is smaller than significance level. < Prey 22 of 25 Next >
02:2416 Reject since the p-value is greater than significance level. Reject No since the p-value is smaller than significance level. Do not reject Hosince the pvalue is greater than significance level. O Do not reject Ho since the pvalue is smaller than significance level. e. Make an inference at a = 0.050. The mean mortgage rate equals 4.3%. The mean mortgage rate does not equal 4.3% The mean mortgage rate exceeds 4.3%. The mean mortgage rate does not exceed 4.3%.
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