Suppose you have a $10,000 loan @ 5% for 10 years with a $106 dollar monthly payment; you are also offered a 3% loan with a $100 monthly payment for 10 years. which is better. explain. what factors should you consider when when comparing two loans? suppose the 3% loan at $100 monthly payments can be paid in 115 monthly payments? would this loan be better than the original loan at 5% at 10 years? explain.

An automobile assembly line operation has a scheduled mean completion time, μ, of 12 minutes. the standard deviation of completion times is 1.6 minutes. it is claimed that, under new management, the mean completion time has decreased. to test this claim, a random sample of 33 completion times under new management was taken. the sample had a mean of 11.2 minutes. assume that the population is normally distributed. can we support, at the 0.05 level of significance, the claim that the mean completion time has decreased under new management? assume that the standard deviation of completion times has not changed.