Statistics

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?

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  1. Take a shot, what do you think?
    Hint: no.

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