Recall that Table 1 9 presents the waiting times for teller service during peak business hours of 100 randomly selected bank customers Figure 2 16 above gives the Minitab output of a histogram of these waiting times that has been constructed using automatic classes a Describe where the waiting time...

a The bank wait times are concentrated between 4 and 9 minutes You might ...

Recall that Table 1.9 presents the waiting times for teller service during peak business hours of 100

Question:

Recall that Table 1.9 presents the waiting times for teller service during peak business hours of 100 randomly selected bank customers.

Waiting Times (in Minutes) for the Bank Customer Waiting Time Case os WaitTime TABLE 1.9 1.6 7.2 6.2 3.2 5.6 7.9 6.1 6.6

Figure 2.16 above gives the Minitab output of a histogram of these waiting times that has been constructed using automatic classes.

FIGURE 2.16 Minitab Frequency Histogram of the 100 Waiting Times (for Exercise 2.22) Histogram of Waiting Times 18 17 16
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.

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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