Answered: Following are interest rates (annual…

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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Question

Following are interest rates (annual percentage rates) for a 30-year fixed-rate mortgage from
a sample of lenders in Colorado on May 3, 2013. Assume that the population is normally
distributed.
3.516 3.499 3.638 3.540 3.547 3.500
3.395 3.401 3.500 3.625 3.625 3.667
Construct a 95% confidence interval for the population variance σ².
The chi-square distribution is skewed, but as the number of degrees of freedom becomes
large, the skewness diminishes. If the number of degrees of freedom, k, is large enough, the
chi-square distribution is reasonably well approximated by a normal distribution with mean
k and variance 2k.

Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.

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