View the step-by-step solution to:

In a certain year, the mean intrest rate (in percent) for new auto loans was 11.28 nationally with a satnadard deviation of 1.

In a certain year, the mean intrest rate (in percent) for new auto loans was 11.28 nationally with a satnadard deviation of 1.5. In order to monitor the interest rates on new auto loans, a simple random sample of 50 loans is obtained. What is the probability that the mean interest rate in this sample is within .2 of the national average? Show all work clearly

Recently Asked Questions

Why Join Course Hero?

Course Hero has all the homework and study help you need to succeed! We’ve got course-specific notes, study guides, and practice tests along with expert tutors.

-

Educational Resources
  • -

    Study Documents

    Find the best study resources around, tagged to your specific courses. Share your own to gain free Course Hero access.

    Browse Documents
  • -

    Question & Answers

    Get one-on-one homework help from our expert tutors—available online 24/7. Ask your own questions or browse existing Q&A threads. Satisfaction guaranteed!

    Ask a Question