A bank with a branch located in a commercial district of a city has the business objective

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A bank with a branch located in a commercial district of a city has the business objective of improving the process for serving customers during the noon-to-1 P.M. lunch period. To do so, the waiting time (defined as the time elapsed from when the customer enters the line until he or she reaches the teller window) needs to be shortened to increase customer satisfaction. A random sample of 15 customers is selected (and stored in Bank 1), and the results (in minutes) are as follows:
A bank with a branch located in a commercial district

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 bank with a branch located in a commercial district

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?

Distribution
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...
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Basic Business Statistics Concepts And Applications

ISBN: 9780132168380

12th Edition

Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel

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