A loan officer compares the interest rates for 48-month fixed rate auto loans and 48-month variable...

 

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A loan officer compares the interest rates for 48-month fixed rate auto loans and 48-month variable interest rate auto loans. Two, independent, random samples for fixed and variable auto loan rates provided the following results. Five 48-month fixed-rate auto loans had the following rates: 3.75% 4.50% 3.99% Five 48-month variable-rate loans had the following rates: 3.59% 3.75% 1. 10 pts 3.69% 4.25% 3.99% 3.50% 3.80% a) Is there enough evidence to indicate a difference in the variances of the interest rates for these fixed and variable rate loans? Assume a = .05 2.5 pt. b) What is the p-value for this problem? 2. 10 pts a) Is there enough evidence to indicate that the mean interest rate for fixed-rate loans is a greater than the mean interest rate for variable-rate loans? Assume a .05 2.5 pt. b) What is the p-value for this problem? A loan officer compares the interest rates for 48-month fixed rate auto loans and 48-month variable interest rate auto loans. Two, independent, random samples for fixed and variable auto loan rates provided the following results. Five 48-month fixed-rate auto loans had the following rates: 3.75% 4.50% 3.99% Five 48-month variable-rate loans had the following rates: 3.59% 3.75% 1. 10 pts 3.69% 4.25% 3.99% 3.50% 3.80% a) Is there enough evidence to indicate a difference in the variances of the interest rates for these fixed and variable rate loans? Assume a = .05 2.5 pt. b) What is the p-value for this problem? 2. 10 pts a) Is there enough evidence to indicate that the mean interest rate for fixed-rate loans is a greater than the mean interest rate for variable-rate loans? Assume a .05 2.5 pt. b) What is the p-value for this problem?

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1 a To test if there is enough evidence in the variances of the interest rates for fixed and variabl... View the full answer