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. Sample statistics for a local bank and a competitor's bank Sample size Local Bank n1=46 Competitor Bank n2=50 Average waiting time in minutes for each sample X¯¯¯1=2.3 mins. X2__ =2.6 Sample Standard Deviation of each Sample s1= 1.1 mins s2=1.0 mins. What is the p-value? What are the critical values? Does the test-statistic lie in the rejection region?
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. Sample statistics for a local bank and a competitor's bank Sample size Local Bank n1=46 Competitor Bank n2=50 Average waiting time in minutes for each sample X¯¯¯1=2.3 mins. X2__ =2.6 Sample Standard Deviation of each Sample s1= 1.1 mins s2=1.0 mins. What is the p-value? What are the critical values? Does the test-statistic lie in the rejection region?
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.7: Probability
Problem 58E: What is meant by the sample space of an experiment?
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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.
Sample statistics for a local bank and a competitor's bank
Sample size |
Local Bank n1=46 |
Competitor Bank n2=50 |
---|---|---|
Average waiting time in minutes for each sample | X¯¯¯1=2.3 mins. | X2__ =2.6 |
Sample Standard Deviation of each Sample | s1= 1.1 mins | s2=1.0 mins. |
- What is the p-value?
- What are the critical values?
- Does the test-statistic lie in the rejection region?
- Interpret the Result?
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