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A mortgage broker is offering home mortgages at a rate of 9.5% but is fearful that this value is higher than many others are charging. A sample of 40 mortgages filed in the county court house shows an average of 9.25% with a standard deviation of 8.61%. Does this sample indicate a smaller average? Use a = 0.05 and assume a normally distributed population. Yes, the test statistic falls in the rejection region. No, the test statistic falls in the acceptance region. Yes, because the test statistic is greater than -1.645. No, because the test statistic is -1.85 and falls in the rejection region. Yes, because the sample mean of 9.25 is below 9.5.

A mortgage broker is offering home mortgages at a rate of 9.5% but is fearful that this value is higher than many others are charging. A sample of 40 mortgages filed in the county court house shows an average of 9.25% with a standard deviation of 8.61%. Does this sample indicate a smaller average? Use a = 0.05 and assume a normally distributed population. Yes, the test statistic falls in the rejection region. No, the test statistic falls in the acceptance region. Yes, because the test statistic is greater than -1.645. No, because the test statistic is -1.85 and falls in the rejection region. Yes, because the sample mean of 9.25 is below 9.5.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A mortgage broker is offering home mortgages at a rate of 9.5% but is fearful that this value is higher than many others are charging. A sample of 40 mortgages filed in the county court house shows an average of 9.25% with a standard deviation of 8.61%. Does this sample indicate a smaller average? Use a = 0.05 and assume a normally distributed population. Yes, the test statistic falls in the rejection region. No, the test statistic falls in the acceptance region. Yes, because the test statistic is greater than -1.645. No, because the test statistic is -1.85 and falls in the rejection region. Yes, because the sample mean of 9.25 is below 9.5.
Transcribed Image Text:A mortgage broker is offering home mortgages at a rate of 9.5% but is fearful that this value is higher than many others are charging. A sample of 40 mortgages filed in the county court house shows an average of 9.25% with a standard deviation of 8.61%. Does this sample indicate a smaller average? Use a = 0.05 and assume a normally distributed population. Yes, the test statistic falls in the rejection region. No, the test statistic falls in the acceptance region. Yes, because the test statistic is greater than -1.645. No, because the test statistic is -1.85 and falls in the rejection region. Yes, because the sample mean of 9.25 is below 9.5.
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