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    A recent article in the Wall Street Journal reported that the 30-year mortgage rate is now less than 6 percent.

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    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? Estimate the p-value.

    © BrainMass Inc. brainmass.com June 3, 2020, 9:06 pm ad1c9bdddf
    https://brainmass.com/statistics/students-t-test/166276

    Solution Preview

    We use a T-test for means.

    Ho: m = 6
    Ha: m < 6

    sample mean for your data is x= 5.6375
    standard deviation is ...

    Solution Summary

    The solution discusses Wall Street Journal reported 30-year mortgage rate rate is now less than 6 percent. The p-value is estimated.

    $2.19

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