(Answered) Following are interest rates annual percentage rates for a

Management Studies

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, 4.341, 4.365, 4.365, 4.842 Find the upper bound of the 99% confidence interval for the mean rate. Round to three decimal places.

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