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

In order to estimate the mean 30-year fixed mortgage rate for a home loan in the United States, a random sample of 21 recent loans is taken. The average calculated from this sample is 4.50%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.3%. Compute 90% and 95% confidence intervals for the population mean 30-year fixed mortgage rate. (You may find it useful to reference the z table. Round intermediate calculations to at least 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 %



Math   Statistics-And-Probability   
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