Lending institutions normally publish their base lending rates in the print media. However, the actual …
Lending institutions normally publish their base lending rates in the print media. However, the actual lending rates vary from one lender to another. To estimate the mean lending rate, a financial a advisor takes a random sample of nine loans. The lending rates (percent per annum) applied to the loans are given below: 15.7, 16.8, 14.3, 18.8, 15.3, 16.6, 18.7, 16.5, 16.0 Assuming the lending rates are normally distributed, construct a 95% confidence interval for the mean lending rate.
Hmmm... This is a tough one :(
We need the Motivation and Support! 💪
Our expert tutor in charge of answering this question needs a cup of coffee to get pumped!