Recall that Table 1.8 presents the waiting times for teller service during peak business hours of 100
Question:
Recall that Table 1.8 presents the waiting times for teller service during peak business hours of 100 randomly selected bank customers. Figure 2.16 on the next page gives the MINITAB output of a histogram of these waiting times that has been constructed using automatic classes.
a. Describe where the waiting times seem to be concentrated.
b. Describe and interpret the shape of the distribution of waiting times.
c. What is the class length that has been automatically defined by MINITAB?
d. Write out the automatically defined classes and construct a cumulative percent frequency distribution of the waiting times using these classes.
DistributionThe word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Essentials Of Business Statistics
ISBN: 9780078020537
5th Edition
Authors: Bruce Bowerman, Richard Connell, Emily Murphree, Burdeane Or
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