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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. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Local Bank (n = 46, avg wait time x = 2.3, sample standard deviation s = 1.1) Competitor Bank (n = 50, avg wait time x = 2.6, sample standard deviation s = 1.0) Are the samples dependent or independent? State your Null/Alternative hypotheses What is the test - statistic? What is the p-value? What are the critical values? Does the test - statistic lie in the rejection region? Interpret the Result? Does the result change for a different value of alpha? Explain? FORMULAS to get answers MUST BE SHOWN with figures

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. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Local Bank (n = 46, avg wait time x = 2.3, sample standard deviation s = 1.1) Competitor Bank (n = 50, avg wait time x = 2.6, sample standard deviation s = 1.0) Are the samples dependent or independent? State your Null/Alternative hypotheses What is the test - statistic? What is the p-value? What are the critical values? Does the test - statistic lie in the rejection region? Interpret the Result? Does the result change for a different value of alpha? Explain? FORMULAS to get answers MUST BE SHOWN with figures

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.4: Distributions Of Data
Problem 7PPS
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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. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Local Bank (n = 46, avg wait time x = 2.3, sample standard deviation s = 1.1) Competitor Bank (n = 50, avg wait time x = 2.6, sample standard deviation s = 1.0) Are the samples dependent or independent? State your Null/Alternative hypotheses What is the test - statistic? What is the p-value? What are the critical values? Does the test - statistic lie in the rejection region? Interpret the Result? Does the result change for a different value of alpha? Explain? FORMULAS to get answers MUST BE SHOWN with figures
Transcribed Image Text: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. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Local Bank (n = 46, avg wait time x = 2.3, sample standard deviation s = 1.1) Competitor Bank (n = 50, avg wait time x = 2.6, sample standard deviation s = 1.0) Are the samples dependent or independent? State your Null/Alternative hypotheses What is the test - statistic? What is the p-value? What are the critical values? Does the test - statistic lie in the rejection region? Interpret the Result? Does the result change for a different value of alpha? Explain? FORMULAS to get answers MUST BE SHOWN with figures
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