Question: The customers at a bank complained about long lines and
The customers at a bank complained about long lines and the time they had to spend waiting for service. It is known that the customers at this bank had to wait 8 minutes, on average, before being served. The management made some changes to reduce the waiting time for its customers. A sample of 60 customers taken after these changes were made produced a mean waiting time of 7.5 minutes with a standard deviation of 2.1 minutes. Using this sample mean, the bank manager displayed a huge banner inside the bank mentioning that the mean waiting time for customers has been reduced by new changes. Do you think the bank manager’s claim is justifiable? Use a 2.5% significance level to answer this question. Use both approaches.
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