A mortgage specialist would like to analyze the average mortgage rates for Atlanta, Georgia. He studies the following sample APR quotes. These are the annual percentage rates (APR) for 30-year fixed loans. If he is willing to assume that these rates are randomly drawn from a normally distributed population, can he conclude that the mean mortgage rate for the population exceeds 4.2%? Test the hypothesis at a 10% level of significance using

(a) The p-value approach and

(b) The critical value approach.

Financial InstitutionAPR

G Squared Financial....4.125%

Best Possible Mortgage....4.250

Hersch Financial Group....4.250

Total Mortgages Services....4.375

Wells Fargo....4.375

Quicken Loans....4.500

Amerisave....4.750