A mortgage loan officer is researching current interest rates on home loans. The mortgage loan officer states the average interest rate on home loans is different than 4.25 percent. If we would like to test the mortgage loan officer's claim with a hypothesis test using a significance level of α=0.01 , which of the following choices are true? Which is correct? There is a 1% chance we will conclude μ=4.25, but is in fact μ≠4.25. There is a 1% chance of rejecting the null hypothesis. There is a 1% chance we will conclude μ≠4.25, but is in fact μ=4.25. There is a 1% chance that μ≠4.25.
A mortgage loan officer is researching current interest rates on home loans. The mortgage loan officer states the average interest rate on home loans is different than 4.25 percent. If we would like to test the mortgage loan officer's claim with a hypothesis test using a significance level of α=0.01 , which of the following choices are true? Which is correct? There is a 1% chance we will conclude μ=4.25, but is in fact μ≠4.25. There is a 1% chance of rejecting the null hypothesis. There is a 1% chance we will conclude μ≠4.25, but is in fact μ=4.25. There is a 1% chance that μ≠4.25.
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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A mortgage loan officer is researching current interest rates on home loans. The mortgage loan officer states the average interest rate on home loans is different than 4.25 percent.
If we would like to test the mortgage loan officer's claim with a hypothesis test using a significance level of α=0.01 , which of the following choices are true?
Which is correct?
There is a 1% chance we will conclude μ=4.25, but is in fact μ≠4.25.
There is a 1% chance of rejecting the null hypothesis.
There is a 1% chance we will conclude μ≠4.25, but is in fact μ=4.25.
There is a 1% chance that μ≠4.25.
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