Mathematics, 26.11.2019 19:31 Mtross30
In a random sample of 23 mortgage institutions, the mean interest rate was 3.42% and the standard deviation was 0.38%. assume the interest rates are normally distributed. which distribution should be used to construct the confidence interval?
a. the 99% confidence interval is
b. neither distribution can be used to construct the confidence interval. interpret the results.
choose the correct answer below.
a. it can be said that 99% of institutions have an interest rate between the bounds of the confidence interval.
b. if a large sample of institutions takes approximately 99% of them will have an interest rate between the bounds of the confidence interval.
c. with 99% confidence, it can be said that the population mean interest rate is between the bounds of the confidence interval.
d. neither distribution can be used to construct the confidence interval.
Answers: 2
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In a random sample of 23 mortgage institutions, the mean interest rate was 3.42% and the standard de...
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