Identify the test you will apply to test the hypothesis

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Reference no: EM132303054

DOCTORAL STATISTICS ASSIGNMENT -

Hypothesis Testing - A loan officer wants to compare the interest rates for 48-month fixed-rate auto loans and 48-month variable-rate auto loans.

Two independent, random samples of auto loans are selected. A sample of eight 48-month fixed-rate auto-loans have the following loan rates: 4.29%, 3.75%, 3.50%, 3.99%, 3.75%, 3.99%, 5.40%, 4.00% while a sample of five 48-month variable-rate auto loans have the loan rates as follows: Test statistic and the corresponding p value s are listed below:

Test Statistics	P Value
3.7431	0.0032

Tasks:

Set up the null and alternative hypotheses needed to determine whether the mean rates for 48-month fixed-rate and variable-rate auto loans differ.

Identify the test you will apply to test the hypothesis. Justify your choice.

Choose an appropriate level of significance.

Define type I and type II errors in the context of your hypotheses.

State your decision regarding the hypothesis.

State the conclusion.

Submission Details: Submit a Microsoft Word document that contains your responses to assignment questions, using APA style.

Reference no: EM132303054

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len2303054

5/10/2019 10:00:04 PM

The assignment needs to be in Microsoft Word format. There must be IN TEXT citations as well as APA REFERENCES. All steps must be explained in detail (with IN TEXT citations) for every step. This is a Doctoral program, and, again, I NEED AN "A". This assignment takes precedence over the last submission but I need both of them. I have more to send to you. Submission Details: Submit a Microsoft Word document that contains your responses to assignment questions, using APA style.

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