Question: Jorge is interested in if there is a difference in the time it takes to open a savings account versus a checking account.He samples 14savings
Jorge is interested in if there is a difference in the time it takes to open a savings account versus a checking account.He samples 14savings account openings and found the mean and standard deviation to be 35 minutes and 3 minutes, respectively.He samples 20 checking account openings and found the mean and standard deviation to be 38 minutes and 4 minutes, respectively.First test to see if you should pool the variance.
Are the variances equal?(yes or no)
What is the p-value for the F test?
Is there a significant difference in the mean time it takes to open the accounts at the five percent level of significance?
What is your p-value for the test about the means?
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
