Use the Following to Answer the Question(s) Below

question 49

Multiple Choice

Use the following to answer the question(s) below.
A sample of 30 year fixed mortgage rates at 12 randomly chosen credit unions yields a mean rate of 6.65 % and a sample standard deviation of 0.39%. A sample of 30 year fixed mortgage rates at 16 randomly selected banks yields a mean rate of 7.05% and a sample standard deviation of 0.22%. Are the mean rates different between credit unions and banks? Relevant output is shown below.
-At the 0.05 level of significance, the correct conclusion is

• A) Reject the null hypothesis.
• B) Do not reject the null hypothesis.
• C) Evidence suggests that there is a significant difference in mean mortgage rates between credit unions and banks.
• D) Reject the null hypothesis and evidence suggests that there is a significant difference in mean mortgage rates between credit unions and banks.
• E) Do not reject the null hypothesis and evidence suggests that there is a significant difference in mean mortgage rates between credit unions and banks.

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