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Question 846:

A recent article in The Wall Street Journal reported that the 30-year mortgage rate is now
less than 6 percent. A sample of eight small banks in the Midwest revealed the following
30-year rates (in percent):4.8 5.3 6.5 4.8 6.1 5.8 6.2 5.6
At the .01 significance level, can we conclude that the 30-year mortgage rate for small banks is less than 6 percent?
Estimate the p-value.

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