Business, 01.12.2020 16:40 gigi813

In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a random sample of 15 recent loans is taken. The average calculated from this sample is 7.85%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.6%. Compute 90% and 95% confidence intervals for the population mean 30-year fixed mortgage rate. Use Table 1. (Round intermediate calculations to 4 decimal places. Round "z-value" to 3 decimal places and final answers to 2 decimal places. Enter your answers as percentages, not decimals.) Confidence Level Confidence Interval
90% % to %
95% % to %

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In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a ra...

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