In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a random sample of 26 recent loans is taken. The average calculated from this sample is 7.20%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.7%. Compute 95% and 99% confidence intervals for the population mean 30-year fixed mortgage rate.

The 95% CI is (6.93% , 7.47%)

The 99% CI is (6.85% , 7.55%)

Step-by-step explanation:

We have to estimate two confidence intervals (95% and 99%) for the population mean 30-year fixed mortgage rate.

We know that the population standard deviation is 0.7%.

The sample mean is 7.2%. The sample size is n=26.

The z-score for a 95% CI is z=1.96 and for a 99% CI is z=2.58.

The margin of error for a 95% CI is

Then, the upper and lower bounds are:

Then, the 95% CI is

The margin of error for a 99% CI is

Then, the upper and lower bounds are:

Then, the 99% CI is

step-by-step explanation:

ok one would be money, and the other would be refreshments or something similar. if each bag of popcorn is 5.00 and each drink is half of that that means drinks are 2.50 the proper way to do that would to look and see how much of each you can buy without exceeding a limit of 30.00