The following values represent the population of home mortgage interest rates (in percents)being charged by the banks in a particular city: Given this information,what is the most extreme amount of sampling error possible if a random sample of n = 4 banks is surveyed and the mean loan rate is calculated?
A)-0.55 percent
B)0.52 percent
C)1.08 percent
D)Can't be determined without more information.

Question

The following values represent the population of home mortgage interest rates (in percents)being charged by the banks in a particular city:  Given this information,what is the most extreme amount of sampling error possible if a random sample of n = 4 banks is surveyed and the mean loan rate is calculated?
A)-0.55 percent 
B)0.52 percent 
C)1.08 percent 
D)Can't be determined without more information.

Quizplus · Accepted Answer

The Answer of The following values represent the population of home mortgage interest rates (in percents)being charged by the banks in a particular city:  Given this information,what is the most extreme amount of sampling error possible if a random sample of n = 4 banks is surveyed and the mean loan rate is calculated?
A)-0.55 percent 
B)0.52 percent 
C)1.08 percent 
D)Can't be determined without more information.

The Following Values Represent the Population of Home Mortgage Interest