Week 2 Report – Statistical Analysis Essay

Directions Speculation Testing A mortgage officer needs to match the rates of interest for 48-month fixed-rate auto loans and 48-month variable-rate auto loans. Two unbiased, random samples of auto loans are chosen. A pattern of eight 48-month fixed-rate auto-loans have the next mortgage charges: four.29%, three.75%, three.50%, three.99%, three.75%, three.99%, 5.40%, four.00% whereas a pattern of 5 48-month variable-rate auto loans have the mortgage charges as follows: three.59%, 2.75%, 2.99%, 2.50%, three.00% Check statistic and the corresponding p worth s are listed beneath: Check Statistic p Worth three.7431 zero.0032 Duties: Arrange the null and various hypotheses wanted to find out whether or not the imply charges for 48-month fixed-rate and variable-rate auto loans differ. Establish the take a look at you'll apply to check the speculation. Justify your alternative. Select an applicable degree of significance. Outline kind I and kind II errors within the context of your hypotheses. State your determination relating to the speculation. State the conclusion. Submission Particulars: Submit a Microsoft Phrase doc that accommodates your responses to project questions, utilizing APA model. Identify your doc SU_BUS7200_W2_ LastName_FirstInitial.doc
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