Question: Michael is interested in obtaining 3 0 - year fixed mortgage rates in Myrtle Beach, SC . He obtained rate quotes from 6 lenders, and
Michael is interested in obtaining year fixed mortgage rates in Myrtle Beach, SC He obtained rate quotes from
lenders, and the APR rates that were quoted to him are given in the following table.
Year Fixed Mortgage Rates
Lender APR
EverBank
AimLoan
Great Western
Greenlight
Flagstar
AuroraBank
Step of : Assuming the population standard deviation for the rates is
calculate the value of chi
Round any intermediate calculations, if needed, to no less than six decimal places, and round your final answer to three decimal places.
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