Test whether the mean rate is less-using p value approach

Assignment Help Basic Statistics

Reference no: EM1321765

Test whether the mean rate is less than 6%. Use P-value approach.

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.

Reference no: EM1321765

Questions Cloud

Write a paragraph that contains specific rhetorical device : Write down a short paragraph that contains the specific rhetorical device. It might be on any topic employed for persuasion (e.g., TV advertisement, YouTube presentation, Blogs, editorials, etc.).

Routers concept : Suppose a BGPv4 router receives an update for the prefix P which indicates AS1 as the next hop (and router has never seen P before).

What is the maximum amount your firm should be willing : Illustrate what is the maximum amount your firm should be willing to spend on lobbying efforts to prevent the cost from being regulated at the socially optimal level.

Explore the role of the epigenome : Explore the role of the epigenome and/or other gene expression regulatory mechanisms in the development of cancer. Discuss in detail one possible epigenetic/post-transcriptional/post-translational target for cancer treatment, and identify the succes..

Test whether the mean rate is less-using p value approach : Test whether the mean rate is less than 6%. Use P-value approach.

Explaining Binomial and poisson : Decide whether experiment is binomial, Poisson or neither based on info given. Each week man plays game in which he has a 21% chance of winning.

Cognitive evaluation theory is contradictory : The Cognitive evaluation theory is contradictory to reinforcement also expectancy theories.

Statutory law or common law : Assume that Arthur Rabe is suing Anna Soto for breaching a contract in which Soto promised to sell Rabe a Van Gogh painting for $3 Million. Statutory law or the common law?

Developing the constants : You will require to set up the constants within your program for the following: number of square feet per square yard (9), inches per foot (12), price per square yard of saxony carpet (15.62).

User Account

All Pages