# Statistics

posted by
**Curtis** on
.

Mortgage Rates In 2001, the mean contract interest rate

for a conventional 30-year first loan for the purchase of a

single-family home was 6.3 percent, according to the U.S.

Federal Housing Board.A real estate agent believes that

interest rates are lower today and obtains a random sample

of 41 recent 30-year conventional loans. The mean

interest rate was found to be 6.05 percent, with a standard

deviation of 1.75 percent. Is this enough evidence to

conclude that interest rates are lower at the level

of significance?