Question

Following Our interest rates annual percentage rates for a 30 year fixed rate mortgage from a...

Following Our interest rates annual percentage rates for a 30 year fixed rate mortgage from a sample of lenders in a certain city. It is reasonable to assume that the population is approximately normal. 4.327, 4.461, 4.547, 4.695, 4.365, 4.669, 4.842 Find the upper bound of the 99% confidence interval for the mean rate Round to three decimal places.

Math   Statistics-And-Probability   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Following are interest rates (annual percentage rates) for a 30-year-fixed-rate mortgage from a sample of lenders...
Following are interest rates (annual percentage rates) for a 30-year-fixed-rate mortgage from a sample of lenders in a certain city. It is reasonable to assume that the population is approximately normal. 4.327, 4.461, 4.547, 4.621 , 4.365, 4.558 , 4.842 Find the upper bound of the 99% confidence interval for the mean rate.
Following are interest rates (annual percentage rates) for a 30-year-fixed-rate mortgage from a sample of lenders...
Following are interest rates (annual percentage rates) for a 30-year-fixed-rate mortgage from a sample of lenders in a certain cityIt is reasonable to assume that the population is approximately normal. 4.327,4.461,4,547 4.468, 4.365 , 4.707, 4.842 Find the upper bound of the 99% confidence interval for the mean rate. Round to three decimal places (for example : 4.015 ). Write only a number as your answer . Do not write any units ..
Question 6 A random sample of 13 DVD movies had a mean length of 115.1 minutes,...
Question 6 A random sample of 13 DVD movies had a mean length of 115.1 minutes, with a standard deviation of 64.7 minutes. Find the lower bound of the 90% confidence interval for the true mean length of all Hollywood movies. Assume movie lengths to be approximately normally distributed. Round to one decimal place (for example: 108.1). Write only a number as your answer. Do not write any units. Question 7 Six measurements were made of the mineral content (in...
Following are interest rates (annual percentage rates) for a 30-year fixed rate mortgage from a sample...
Following are interest rates (annual percentage rates) for a 30-year fixed rate mortgage from a sample of lenders in Macon, Georgia, on June 20, 2013. Assume that the population is approximately normal. 4.912 4.636 4.555 4.231 4.476 4.658 4.791 3.395 4.228 4.873 4.311 4.541 4.912 4.636 4.555 4.231 4.476 4.658 4.791 3.395 4.228 4.873 4.311 4.541 4.912 4.636 4.555 4.231 4.476 4.658 4.791 3.395 4.228 4.873 4.311 4.541 (a) Find the sample standard deviation s . Round the answer to...
*Please Answer All * 1. A company has developed a new type of light bulb and...
*Please Answer All * 1. A company has developed a new type of light bulb and wants to estimate its mean lifetime. A simple random sample of 12 bulbs had a sample mean lifetime of 651 hours with a sample standard deviation of 31 hours. It is reasonable to believe that the population is approximately normal. Find the lower bound of the 95% confidence interval for the population mean lifetime of all bulbs manufactured by this new process. Round to...
Michael is interested in obtaining 30-year fixed mortgage rates in Myrtle Beach, SC. He obtained rate...
Michael is interested in obtaining 30-year fixed mortgage rates in Myrtle Beach, SC. He obtained rate quotes from 66 lenders, and the APR rates that were quoted to him are given in the following table. 30-Year Fixed Mortgage Rates Lender APR (%) EverBank 3.5063.506 AimLoan 3.6303.630 Great Western 4.0364.036 AuroraBank 4.2164.216 Quicken 4.1964.196 Roundpoint 4.0174.017 Step 3 of 3 : Assuming the population standard deviation for the rates is 0.1%0.1%, calculate the value of χ2χ2. Round any intermediate calculations, if...
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...
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 14 recent loans is taken. The average calculated from this sample is 7.35%. It can be assumed that 30-year fixed mortgage rates are normally distributed with a standard deviation of 0.6%. Compute 90% and 99% confidence intervals for the population mean 30-year fixed mortgage rate. (You may find it useful to reference the z table. Round intermediate calculations...
Bank of America offers you a 30-year, fixed-rate mortgage with 80% LTV, an annual interest rate...
Bank of America offers you a 30-year, fixed-rate mortgage with 80% LTV, an annual interest rate of 4.25%, and mortgage payments of $2,312. Home value is 550,000. What is the down payment on this loan?
The interest rate quoted on 30-year fixed rate mortgage is 4.5% APR (monthly compounding). Calculate the...
The interest rate quoted on 30-year fixed rate mortgage is 4.5% APR (monthly compounding). Calculate the effective annual rate on this loan. (Enter percentages as decimals and round to 4 decimals)
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT