Answered: A local bank claims that the waiting…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

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. Test the local bank’s claim. Use the information given below. Use a significance level of .05 and assume the variances are equal.

1. Identify what they are given and what they need to find;

2. Identify the type of problem they have been given and the tools necessary to solve the problem;

3. Correctly apply the tools to the information given to set up the problem;

4. Perform mathematically correct calculations to determine a solution;

5. Interpret their results in terms of the original problem.

Sample statistics for a local bank and a competitor's bank
Local Bank
Competitor Bank
Sample size
ni = 46
n2 = 50
Average waiting time in
X, = 2. 3 mins.
X = 2. 6 mins.
minutes for each sample
Sample Standard Deviation
S1 = 1.1 mins
S2 = 1.0 mins.
of each Sample

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Hypothesis Tests and Confidence Intervals for Equality of Variances$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc