Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Statistics and Probability Expert

Test whether the mean rate is less than 6%. Use P-value approach.

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

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 the 30-year mortgage rate for small banks is less than 6 percent? Approximate the p-value.

Statistics and Probability, Statistics

  • Category:- Statistics and Probability
  • Reference No.:- M922160

Have any Question? 


Related Questions in Statistics and Probability

The weights of the fish in a certain lake are normally

The weights of the fish in a certain lake are normally distributed with a mean of 13 lb and a standard deviation of 12. If 16 fish are randomly selected, what is the probability that the mean weight will be between 10.6 ...

1 what is the difference between simple also known as

1. What is the difference between simple (also known as univariate and bivariate) regression and multivariate regression? A) Simple regression includes one independent variable, and multivariate regression includes more ...

St augustine and socrates both acknowledge that the perfect

St. Augustine and Socrates both acknowledge that the perfect city cannot exist in this world. For each of them, what is it about the nature of human beings and of political life that makes this impossible?

1 consider a test of h0 mu le 100 versus h1 mu gt 100

1. Consider a test of H0 : μ ≤ 100 versus H1 : μ > 100. Suppose that a sample of size 20 has a sample mean of X = 105. Determine the p-value of this outcome if the population standard deviation is known to equal  (a) 5; ...

A researcher obtained a sample of 180 participants between

A researcher obtained a sample of 180 participants between the ages of 18 and 24 and calculated the phi coefficient between whether they smoked cigarettes and whether they used marijuana (yes vs. no). Because the correla ...

In a survey of 617males agesnbsp18-64 396 say they have

In a survey of 617males ages 18-64, 396 say they have gone to the dentist in the past year. Construct 90% and 95% confidence intervals for the population proportion. Interpret the results and compare the widths of the co ...

1 draw a negatively skewed distribution2 what does it

1. Draw a negatively skewed distribution. 2. What does it indicate if a participant has a z-score of 2.5? -.80? .OO?

Jolie takes 45 minutes to do her statistics homework if the

Jolie takes 45 minutes to do her statistics homework. If the mean is 38 minutes and the standard deviation is 3, calculate Jolie's z score. Once calculated, interpret your findings in terms of Jolie's performance.

Starting in the 10th century movements to reform the church

Starting in the 10th century, movements to reform the church began. Why was the church in need of reform, and what were the consequences of the Gregorian Reforms? How did these reforms change society? 1 and a half page e ...

The price of a railroad car purchased by rio corporation

The price of a railroad car purchased by Rio Corporation was $78,600. Using the MACRS method, calculate the annual depreciation for year 3. (Round all dollar amounts to the nearest cent) $34,371.78 $19,249.14 $13,747.14 ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen