Recall that a bank manager has developed a new system to reduce the time customers spend waiting for teller service during peak hours. The manager hopes the new system will reduce waiting times from the current 9 to 10 minutes to less than 6 minutes.
a. Letting μ represent the mean waiting time under the new system, set up the null and alternative hypotheses needed if we wish to attempt to provide evidence supporting the claim that m is shorter than six minutes.
b. The mean and the standard deviation of a sample of 100 bank customer waiting times are 5.46 and 2.475, respectively. (1) Use a critical value to test the hypotheses you set up in part a by setting a equal to .05. (2) Interpret the p- value of .0158 for the test.

  • CreatedMay 28, 2015
  • Files Included
Post your question