State the meaning of µ1 and µ2 first. The question here is: Is there evidence from the sample data to determine if the wait time minutes at Bank 2 are significantly longer than Bank 1. That is not the question in the book. Test at the 5% level of significance. Note that if group 1 is fixed then what we need to ask here is if µ1 < µ2…we could switch group 1 and group 2, but let’s not, so everyone will be performing the same test. A bank with a branch located in a commercial district of a city has the business objective of developing an improved process for serving customers during the noon-to- 1 P.M. lunch period. Management decides to first study the waiting time in the current process. The waiting time is defined as the number of minutes that elapses from when the customer enters the line until he or she reaches the teller window. Data are collected from random sample of 15 customers and stored in Bank 1. Suppose that another branch, located in a residential area, is also concerned with improving the process of serving customers in the noon-to-1 P.M. lunch period. Data are collected from a random sample of 15 customers and stored in Bank 2. A. Assuming that the population variances from both banks are equal, is there evidence of a difference in the mean waiting time between the two branches? (use a=0.05) B. Determine the p-value in (a) and interpret its meaning. C. In addition to equal variances, what other assumption is necessary in (a)? D. Construct and interpret a 95% confidence interval estimate of the difference between the population means in the two branches.
State the meaning of µ1 and µ2 first. The question here is: Is there evidence from the sample data to determine if the wait time minutes at Bank 2 are significantly longer than Bank 1. That is not the question in the book. Test at the 5% level of significance. Note that if group 1 is fixed then what we need to ask here is if µ1 < µ2…we could switch group 1 and group 2, but let’s not, so everyone will be performing the same test.
A bank with a branch located in a commercial district of a city has the business objective of developing an improved process for serving customers during the noon-to- 1 P.M. lunch period. Management decides to first study the waiting time in the current process. The waiting time is defined as the number of minutes that elapses from when the customer enters the line until he or she reaches the teller window. Data are collected from random sample of 15 customers and stored in Bank 1.
Suppose that another branch, located in a residential area, is also concerned with improving the process of serving customers in the noon-to-1 P.M. lunch period. Data are collected from a random sample of 15 customers and stored in Bank 2.
A. Assuming that the population variances from both banks are equal, is there evidence of a difference in the mean waiting time between the two branches? (use a=0.05)
B. Determine the p-value in (a) and interpret its meaning.
C. In addition to equal variances, what other assumption is necessary in (a)?
D. Construct and interpret a 95% confidence
Trending now
This is a popular solution!
Step by step
Solved in 4 steps with 2 images
