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## Statistics

A recent article in The Wall Street Journal reported that 30-year mortgage rate is now less than 6%. A sample of 8 small banks in Midwest revealed the following 30-year rates (in %):

 Mortgage Rate 4.8 5.3 6.5 4.8 6.1 5.8 6.2 5.6

At the .01 significance level, can we conclude that 30-year mortgage rate for small banks is less than 6%? Determine the p-value.

Statistics and Probability, Statistics

• Category:- Statistics and Probability
• Reference No.:- M917902

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