Please do not give solution in image format thanku A teller at a drive-up window at a bank had the following service times (in minutes) for 20 randomly selected customers:SAMPLE1 2 3 44.54.64.54.74.24.54.64.64.24.44.44.84.34.74.44.54.34.34.64.9If the process parameters are unknown, estimate its mean and standard deviation. (That is, find the average and standard deviation of alldata points at once.)Select one:Ⓒa. μ = 4.5, o = 0.0368O b. μ = 4.7,0 = 0.19c. μ = 4.5, o = 0.19O d. μ = 4.7,0 = 0.0368Oе. μ = 4.3, o = 0.19Of. None of the other options.g. μ = 4.3, o = 0.0368

Here, I have been given the sample data set with unknown process parameters, to estimate mean and…

Answered: If the process parameters are unknown,…

If the process parameters are unknown, estimate its mean and standard deviation. (That is, find the average and standard deviation of all data points at once.)

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

Please do not give solution in image format thanku

A teller at a drive-up window at a bank had the following service times (in minutes) for 20 randomly selected customers:
SAMPLE
1 2 3 4
4.54.64.54.7
4.24.54.64.6
4.24.44.44.8
4.34.74.44.5
4.34.34.64.9
If the process parameters are unknown, estimate its mean and standard deviation. (That is, find the average and standard deviation of all
data points at once.)
Select one:
Ⓒa. μ = 4.5, o = 0.0368
O b. μ = 4.7,0 = 0.19
c. μ = 4.5, o = 0.19
O d. μ = 4.7,0 = 0.0368
Oе. μ = 4.3, o = 0.19
Of. None of the other options.
g. μ = 4.3, o = 0.0368

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