26. A bank claims that the mean waiting time in line is less than 2.2 minutes....
A bank claims that the mean waiting time in line is less than 4.1 minutes. A random sample of 60 customers has a mean of 4 minutes. Assuming a population standard deviation of 0.6 minute, test the bank's claim with an ? = 0.05 level of confidence. ?0 = ___________________________________ ?? = ___________________________________ Test Statistic = __________________________ Alpha level of significance= __________________ Classical Critical Value = ____________________ P-value = _______________________________ ________Conclusion: A) reject ?0 B) fail to reject ?0 ________Interpretation:...
A local hardware store claims that the mean waiting time in line is less than 3.5 minutes. A random sample of 20 customers has a mean of 3.3 minutes with a standard deviation of 0.8 minute. If a = 0.05, test the store's claim. Assumption: ? Parameter: ? Hypothesis: ? Test Statistic: ? Reject- Region: ? Calculated Test Statistic: ? Conclusion: ? P-value: ?
A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. a) Construct a 95% confidence interval for the difference of means. b)Use ΅ = 0.05 to test the local bank's claim. Local Bank: n1 = 45, x1 = 5.3 minutes, s1 = 1.1 minutes Competitor Bank: n2 = 50, x2 = 5.6 minutes, s2...
A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. a) Construct a 95% confidence interval for the difference of means. (NEED UPPER AND LOWER BOUND!!!!!!!) b)Use alpha=0.05 to test the local bank's claim. Local Bank: n1=45 xbar1=5.3 minutes s1=1.1 minutes Competitor Bank: n2=50 xbar2=5.6 minutes s2=1.0 minute
A change store claims that the mean of waiting time is 3.5 minutes. A regular customer who happened to be taking a statistics and probability class believes that the wait time is longer. The student then gathers a random sample of 20 customers which has a mean of 3.8 minutes with a standard deviation of 0.5 minute. If alpha=0.05, test the store's claim. Ho: H1: Test statistic: Critical value: P value: Conclusion:
A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Use P-values to test the local bank claim. Use a "alpha" = 0.05 Local Bank: n1= 45. x1= 5.3 minutes. s1= 1.1 minutes. Competitor bank: n2= 50. x2= 23. s2= 1.9.
6) The YourMoney Bank claims that the mean waiting time of customers for service at the drive through window is 3 minutes. a) State the Hypothesis to show the mean waiting time for service different than 3 minutes. b) Choose a level of a. Use a= 0.05 for this problem. c) To test the hypothesis, the quality-assurance department took a sample of 50 customers and records their waiting time in minutes. The data appear in the YourMoney worksheet of the...
Alocal retailer daims that the mean waiting time is less than 5 minutes. A random sample of 20 waiting times has a mean of 3.5 minutes with a standard deviation of 21 minutes. Ata -0.01, test the retailer's claim. Assume the distribution is normally distributed The test statistic was calculated to be 3.194 and the critical value from the distribution table is 2.539. What decision and conclusion can you make? Reject the wil hypothesis, there is enough evidence to conclude...
A public bus company official claims that the mean waiting time for a bus during peak hours is less than 10 minutes. A college student took a bus during peak hours on 20 different occasions. His mean waiting time was 8.5 minutes with a standard deviation of 2.3 minutes. At the 0.01 significance level test the claim that the mean is less than 10 minutes. (Please write clearly, please show step by step solutions)
A company claims that the time their customers spend waiting in line for service is normally distributed with a mean of 21.4 minutes and a standard deviation of 7.2 minutes. Approximately 10% of the customers can expect to wait as long as how many minutes for service? (with steps please)