Mathematics, 22.04.2020 00:02 AM28
In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a random sample of 26 recent loans is taken. The average calculated from this sample is 7.20%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.7%. Compute 95% and 99% confidence intervals for the population mean 30-year fixed mortgage rate.
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In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a ra...
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