document.write( "Question 451287: You randomly select 20 mortgage institutions and determine the current mortgage intrest rate at each. The sample mean rate is 6.22% with a sample standard deviation of 0.42%. Find the 99% confidence interval for the population mean mortgage interest rate. Assume the interest rates are approximately normally distributed. \n" ); document.write( "

Algebra.Com's Answer #310588 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi,
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document.write( "sample (20)mean rate is 6.22% with a sample standard deviation of 0.42%.
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document.write( "ind the %confidence interval for the population mean mortgage interest rate.
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document.write( "ME = [.42/sqrt(20)] = .24	
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document.write( "CI: 6.22-.24 < u < 6.22 +.24		
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