A bank with a branch located in a commercial district of a city has the business objective
Question:
Suppose that another branch, located in a residential area, is also concerned with the noon-to-1 P.M. lunch period. A random sample of 15 customers is selected (and stored in Bank 2), and the results (in minutes) are as follows:
a. Is there evidence of a difference in the variability of the waiting time between the two branches? (Use α = 0.05.)
b. Determine the p-value in (a) and interpret its meaning.
c. What assumption about the population distribution of the two banks is necessary in (a)? Is the assumption valid for these data?
d. Based on the results of (a), is it appropriate to use the pooled variance t test to compare the means of the two branches?
The 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...
Step by Step Answer:
Basic Business Statistics Concepts And Applications
ISBN: 9780132168380
12th Edition
Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel