A bank's loan department found that 57 home loans processed during April had a mean value of
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A bank's loan department found that 57 home loans processed during April had a mean value of $78,100 and a standard deviation of $7500. An analysis of the loans in May, a total of 66, showed a mean value of $81,700 with a standard deviation of $8350. Suppose these home loans represent random samples of the values of home loan applications approved in the bank's service area. Do these data provide sufficient evidence to indicate that the mean value of approved home loan applications in April is less than the mean value of approved home loan applications in May? Test using a = 0.10 (Use p-value value method).
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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