Question: 1. A local bank is concerned about its image. One aspect of image is promptness of service. In a survey conducted by the bank, the
1. A local bank is concerned about its image. One aspect of image is "promptness of service." In a survey conducted by the bank, the customers (n=100) indicated a mean score of 5.2 on a 7-point scale ( 1= not prompt at all; 7= extremely prompt) and the standard deviation was 1.2. Suppose that the researcher hypothesizes that the customers feel the bank's service is neither prompt nor slow (i.e., the null hypothesis is that the mean =4). (8 Points) A. Using the confidence interval/critical value approach test the alternative hypothesis that the mean does not equal 4 at the 95% confidence level. (3) B. What does the result mean to the bank's management? (2) C. Test the above hypothesis in terms of Z statistic. (3)
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