# Question: A sample of 16 ATM transactions shows a mean transaction

A sample of 16 ATM transactions shows a mean transaction time of 67 seconds with a standard deviation of 12 seconds.

(a) State the hypotheses to test whether the mean transaction time exceeds 60 seconds.

(b) Find the test statistic.

(c) At α = .025, what is the critical value for this test?

(d) What is your conclusion?

(a) State the hypotheses to test whether the mean transaction time exceeds 60 seconds.

(b) Find the test statistic.

(c) At α = .025, what is the critical value for this test?

(d) What is your conclusion?

**View Solution:**## Answer to relevant Questions

A statistical consultant was retained by a linen supplier to analyze a survey of hospital purchasing managers. After looking at the data, she realized that the survey had missed several key geographic areas and included some ...(a) Should the average business school graduate expect to use computers to manipulate data, or is this a job better left to specialists? (b) What problems arise when an employee is weak in quantitative skills? Based on your ...Which statement is correct? Why not the others? a. The level of significance is the probability of committing Type I error. b. As the sample size increases, critical values of t.05 increase, gradually approaching z.05. c. ...Which statement is not correct concerning a p-value? Explain. a. Ceteris paribus, a larger p-value makes it more likely that H0 will be rejected. b. The p-value shows the risk of Type I error if we reject H0 when H0 is ...The process that produces Sonora Bars (a type of candy) is intended to produce bars with a mean weight of 56 grams (g). The process standard deviation is known to be 0.77g. A random sample of 49 candy bars yields a mean ...Post your question