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Amount of money homeowners pay on mortgage month

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One measure of the state of the economy is the amount of money homeowners pay on their mortgage each month. To determine the extent of change between this year and 5 years ago, a random sample of 150 homeowners was drawn. The monthly mortgage payments for each homeowner for both this year and 5 years ago were recorded. (The amounts have been adjusted for any inflation.) Can we infer that mortgage payments, on average, have risen over the past 5 years?

State the appropriate hypotheses and decision rule, (use a .05 significance level)

· USE EXCEL for all calculations and formulas (please show how and what to use (don't have minitab) please i don't know how to use excel

State your conclusion(s) in words, that answers the problem's question

Reference no: EM132880135

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