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In recent times, with mortgage rates at low levels, financial institutions have had to provide more innovations offered by Coastal National Bank and Trust is online entry of mortgage applications. Listed are the times, in minutes, for eight customers to complete the application process for a 15-year fixed-rate mortgage and the times for nine customers to complete an application for a 30-year fixed-rate mortgage. 15 years, fixed rate 30 years, fixed rate 41 36 42 39 36 48 49 38 21 27 36 20 19 21 39 24 22 Click here for the Excel Data File Do not assume the distribution times follow a normal distribution for either group. a. State the decision rule. Use the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your answer to 3 decimal places.) Hg: The distributions are the same. H: The 30-year distribution is smaller or to the left. Reject Ho it z>

In recent times, with mortgage rates at low levels, financial institutions have had to provide more innovations offered by Coastal National Bank and Trust is online entry of mortgage applications. Listed are the times, in minutes, for eight customers to complete the application process for a 15-year fixed-rate mortgage and the times for nine customers to complete an application for a 30-year fixed-rate mortgage. 15 years, fixed rate 30 years, fixed rate 41 36 42 39 36 48 49 38 21 27 36 20 19 21 39 24 22 Click here for the Excel Data File Do not assume the distribution times follow a normal distribution for either group. a. State the decision rule. Use the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your answer to 3 decimal places.) Hg: The distributions are the same. H: The 30-year distribution is smaller or to the left. Reject Ho it z>

College Algebra (MindTap Course List)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter6: Linear Systems
Section6.8: Linear Programming
Problem 5SC: If during the following year it is predicted that each comedy skit will generate 30 thousand and...
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d. At the 0.05 significance level, is it reasonable to conclude that it takes less time for those customers applying for the 30-year fixed- rate mortgage? Ho is (not rejected/ rejected). The 30 year application is faster
In recent times, with mortgage rates at low levels, financial institutions have had to provide more customer convenience. One of the innovations offered by Coastal National Bank and Trust is online entry of mortgage applications. Listed are the times, in minutes, for eight customers to complete the application process for a 15-year fixed-rate mortgage and the times for nine customers to complete an application for a 30-year fixed-rate mortgage. 15 years, fixed rate 30 years, fixed rate 41 36 42 39 36 48 49 38 21 27 36 20 19 21 39 24 22 S Click here for the Excel Data File Do not assume the distribution times follow a normal distribution for either group. a. State the decision rule. Use the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your answer to 3 decimal places.) Ho: The distributions are the same. H: The 30-year distribution is smaller or to the left. Reject Ho if z >
Transcribed Image Text:In recent times, with mortgage rates at low levels, financial institutions have had to provide more customer convenience. One of the innovations offered by Coastal National Bank and Trust is online entry of mortgage applications. Listed are the times, in minutes, for eight customers to complete the application process for a 15-year fixed-rate mortgage and the times for nine customers to complete an application for a 30-year fixed-rate mortgage. 15 years, fixed rate 30 years, fixed rate 41 36 42 39 36 48 49 38 21 27 36 20 19 21 39 24 22 S Click here for the Excel Data File Do not assume the distribution times follow a normal distribution for either group. a. State the decision rule. Use the 0.05 significance level. (Negative amounts should be indicated by a minus sign. Round your answer to 3 decimal places.) Ho: The distributions are the same. H: The 30-year distribution is smaller or to the left. Reject Ho if z >
b. Complete the following table. (Round your answers to 1 decimal places.) 30 Year 15 Year Time Rank Time Rank 21 41 27 36 36 42 20 39 19 36 21 48 ces 39 49 24 38 22 0.0 0.0 c. What is the Wilcoxon rank-sum test value, at the 0.05 significance level? (Round your answer to 2 decimal places.)
Transcribed Image Text:b. Complete the following table. (Round your answers to 1 decimal places.) 30 Year 15 Year Time Rank Time Rank 21 41 27 36 36 42 20 39 19 36 21 48 ces 39 49 24 38 22 0.0 0.0 c. What is the Wilcoxon rank-sum test value, at the 0.05 significance level? (Round your answer to 2 decimal places.)
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