Solved

A Local Bank Claims That the Waiting Time for Its α\alpha

Question 40

Essay

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. Test the local bankʹs claim using α α\alpha = 0.05. Assume the two
samples are random and independent.
Local BankCompetitor Bankn1=45n2=50x1=5.6 minutes x2=5.9 minutes σ1=1.1 minutes σ2=1.0 minute \begin{array} { l l }\text {Local Bank}&\text {Competitor Bank}\\ \mathrm { n } _ { 1 } = 45 & \mathrm { n } _ { 2 } = 50 \\ \overline { \mathrm { x } } 1 = 5.6 \text { minutes } & \overline { \mathrm { x } } 2 = 5.9 \text { minutes } \\ \sigma _ { 1 } = 1.1 \text { minutes } & \sigma _ { 2 } = 1.0 \text { minute } \end{array}

Correct Answer:

verifed

Verified

critical value blured image = -1.645; stan...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents