According to ValuePenguin.com, the current 30-year mortgage rate is now less than 5%. A sample of eight
Question:
According to ValuePenguin.com, the current 30-year mortgage rate is now less than 5%. A sample of eight small banks in the Midwest revealed the following rates (in percent):
At the .01 significance level, can we conclude that the 30-year mortgage rate for small banks is less than 5%? Compute the p-value.
Transcribed Image Text:
3.6 4.1 5.3 3.6 4.9 4.6 5.0 4.4
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 62% (8 reviews)
Assume the population is normally distributed ...View the full answer
Answered By
Irfan Ali
I have a first class Accounting and Finance degree from a top university in the World. With 5+ years experience which spans mainly from the not for profit sector, I also have vast experience in preparing a full set of accounts for start-ups and small and medium-sized businesses. My name is Irfan Ali and I am seeking a wide range of opportunities ranging from bookkeeping, tax planning, business analysis, Content Writing, Statistic, Research Writing, financial accounting, and reporting.
4.70+
249+ Reviews
530+ Question Solved
Related Book For
Statistical Techniques In Business And Economics
ISBN: 9781260239478
18th Edition
Authors: Douglas Lind, William Marchal, Samuel Wathen
Question Posted:
Students also viewed these Mathematics questions
-
The 30-year mortgage rate is now less than 6.0%. A sample of eight financial institutions in Canada showed the mean mortgage rate to be 5.6375%, with a standard deviation of 0.6346%. At the 0.01...
-
The 30-year mortgage rate is now less than 6.0%. A sample of eight financial institutions in Canada showed the mean mortgage rate to be 5.6375%, with a standard deviation of 0.6346%. At the 0.01...
-
A sample of eight states was selected randomly from each of three regions in the United States (Northeast, Southeast, and West). Mean annual salaries for marketing managers were retrieved from the...
-
A car manufacturer designs a fuel-efficient car for 1993. The company argues that the car can attain an average of 45 miles per gallon. The miles per gallon of the car follows a normal distribution...
-
You have a close relationship with your boss, so you will announce your intention to leave the company in a private, one-on-one conversation. However, you also recognize the need to write a formal...
-
Find the closed-loop transfer function, T(s) = C(s)/R(s) for the system shown in Figure P5.2, using block diagram reduction. H1 R(s) GI G2 C3 C(s) FIGURE P5.2
-
The sensing element in many thermostats is a bimetallic strip (Figure 7.45), which is a nonsymmetric laminate consisting of two plies made from different metals. If the strip is subjected to a...
-
Steves Tax Services had the following accounts and account balances after adjusting entries. Assume all accounts have normal balances. Cash .................. $ ? Land ................ 24,000...
-
Chang Company provided the following data for this year: Manufacturing overhead costs incurred: Indirect materials Indirect labor Property taxes, factory Utilities, factory Depreciation, factory...
-
The following auditors report was drafted by a staff accountant of Nathan and Matthew, CPAs, at the completion of the audit of the comparative financial statements of Monterey for the years ended...
-
A 2019 survey of American households with two or more children indicated the mean annual interest paid on household debt was $8,000. A sample of 12 households reported the following annual paid...
-
An Etsy store receives an average of 6.5 returns per day from online shoppers. For a sample of 12 days, it received the following numbers of returns. At the .01 significance level, can we conclude...
-
A line of mens shirts was offered in a chain of retail stores at three prices: $32, $35, and $40. Weekly sales were monitored, producing totals at 30 stores in the chain (10 at each price). Which...
-
Reread the Managers Notebook, High-Priced CEOs: Are They Worth It? Develop a list of arguments in favor of the position of Prof. Desai (that CEO pay is irrational) and a list of arguments in favor...
-
A serious barrier to employment of people with disabilities continues to be a perception problem. Managers and coworkers lack knowledge, awareness, and comfort in working with employees with...
-
This exercise asks you to explore your attitudes concerning illegal immigrants in the workplace. a. Would you work for an employer who makes it a point to hire illegal immigrants? Why or why not? b....
-
The director of HR has appointed you to a committee responsible for investigating allegations that reliance on internal referrals through social sites undermines the diversity efforts of the firm....
-
What recommendations would you offer Peter Merton for redesigning Antles compensation system? Antle Corporation (a fictitious name for a company known to one of this books authors) is a large...
-
A jetliner can fl y 6.00 hours on a full load of fuel. Without any wind it flies at a speed of 2.40 102 m/s. The plane is to make a round-trip by heading due west for a certain distance, turning...
-
a. What is the cost of borrowing if Amarjit borrows $28 500 and repays it over a four-year period? b. How many shares of each stock would he get if he used the $28 500 and invested equally in all...
-
The liquid chlorine added to swimming pools to combat algae has a relatively short shelf life before it loses its effectiveness. Records indicate that the mean shelf life of a 5-gallon jug of...
-
A Washington, D.C., think tank announces the typical teenager sent 50 text messages per day in 2013. To update that estimate, you phone a sample of 12 teenagers and ask them how many text messages...
-
Hugger Polls contends that an agent conducts a mean of 53 in-depth home surveys every week. A streamlined survey form has been introduced, and Hugger wants to evaluate its effectiveness. The number...
-
Create a segmentation, selection and focus model that allows the PUMA company in Mexico to determine its customer, where to find it and how to generate value given its model. 7) Selection of the most...
-
Determine if the following values are zeroes polynomial. 4 3 f(x) = x + x-18x - 16x + 32 x+1, +2, +4 -
-
Cali Windows is a small company that installs windows. Its cost structure is as follows: (Click the icon to view the cost structure.) Calculate (a) the breakeven point in units and revenues and (b)...
Study smarter with the SolutionInn App