Question

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 = 1.0 minute

Answer 1

Solution;

Given that;