Question 16 (5 points) Following are interest rates (annual percentage rates) fo

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Question 16 (5 points) Following are interest rates (annual percentage rates) for a 30-year-fixed-rate mortgage from a sample of lenders in a certain city. It is reasonable to assume that the population is approximately normal city, i is reasoable to assum 4.327, 4.461, 4.547, 4.750, 4.365, 4.436, 4.842 Find the upper bound of the 99% confidence interval for the mean rate Round to three decimal places (for example: 4.015). Write only a number as your answer. Do not write any units Your Answer Answer

Explanation / Answer

The upper bound of the 99 % confidence interval for the mean rate is

=  4.764

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