Finding bound of probability for actual rate


Assignment:

Thirty-year fixed mortgage rates in April 2007 seemed normally distributed with mean 6.17%. The standard deviation is believed to be 0.25%. Find a bound such that the probability that the actual rate obtained will be this number or below it is 90%.

Your answer must be typed, double-spaced, Times New Roman font (size 12), one-inch margins on all sides, APA format and also include references.

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Basic Statistics: Finding bound of probability for actual rate
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