A mortgage broker is offering home mortgages at a rate of 9.5% but is fearful that this value is higher than many others are charging.A sample of 40 mortgages filed in the county court house shows an average of 9.25% with a standard deviation of 8.61%.Does this sample indicate a smaller average? Use $\alpha$ = 0.05 and assume a normally distributed population.
A) Yes,the test statistic falls in the rejection region.
B) No,the test statistic falls in the acceptance region.
C) Yes,because the test statistic is greater than -1.645.
D) No,because the test statistic is -1.85 and falls in the rejection region.
E) Yes,because the sample mean of 9.25 is below 9.5.

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The Answer of A mortgage broker is offering home mortgages at a rate of 9.5% but is fearful that this value is higher than many others are charging.A sample of 40 mortgages filed in the county court house shows an average of 9.25% with a standard deviation of 8.61%.Does this sample indicate a smaller average? Use $\alpha$ = 0.05 and assume a normally distributed population.
A) Yes,the test statistic falls in the rejection region.
B) No,the test statistic falls in the acceptance region.
C) Yes,because the test statistic is greater than -1.645.
D) No,because the test statistic is -1.85 and falls in the rejection region.
E) Yes,because the sample mean of 9.25 is below 9.5.

A Mortgage Broker Is Offering Home Mortgages at a Rate α\alphaα

A Mortgage Broker Is Offering Home Mortgages at a Rate $\alpha$