Refer to Exercise 52. Suppose the sample size was 12 rather than 200. Revise the test you

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Refer to Exercise 52. Suppose the sample size was 12 rather than 200. Revise the test you set up and report your decision. Assume the population distribution is approximately normal.
In exercise
A study in the Annals of Emergency Medicine found that for emergency room patients in California hospitals the average waiting time—the elapsed time from arrival until seeing a physician— was 56 minutes (source: acep.org). As part of your research at St. Luke’s Hospital in Los Angeles, you track a random sample of 200 patients. The average waiting time for patients in the sample is 60.4 minutes. The sample standard deviation is 28.6 minutes. Is this sample result sufficient to reject a null hypothesis that the average waiting time for patients at St. Luke’s is the same as the overall California average? Use a 5% significance level.
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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Understanding Business Statistics

ISBN: 978-1118145258

1st edition

Authors: Stacey Jones, Tim Bergquist, Ned Freed

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