A bank branch located in a commercial district of a city has the business objective of developing animproved process for serving customers during the noon-to-1:00 p.m. lunch period. The waiting time,in minutes, is defined as the time the customer enters the line to when he or she reaches the tellerwindow. Data collected from a sample of 25 customers during this hour are stored as follows:4.30 5.55 3.02 5.13 3.072.343.54 3.204.50 6.151.38 5.12 6.26 6.19 4.895.133.34 3.74 5.10 4.50 4.802.17 3.82 4.05 4.801. Compute the mean, median, and mode.2. Compute the variance, standard deviation, range, coefficient of variation, and Z scores.3. Are there any outliers? Explain.4. As a customer walks into the branch office during lunch hour, she asks the branch manager howlong she can expect to wait. The branch manager replies, "Almost certainly less than fiveminutes." On the basis of the result of (1) and (2), evaluate the accuracy of this statement.

Answered: A bank branch located in a commercial…

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

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A magazine collects data each year on the price of a hamburger in a certain fast food restaurant in various countries around the world. The price of this hamburger for a sample of restaurants in Europe in January resulted in the following hamburger prices (after conversion to U.S. dollars). 5.16 4.98 4.05 4.66 5.23 4.65 4.17 4.96 5.18 5.58 5.32 4.60 The mean price of this hamburger in the U.S. in January was $4.61. For purposes of this exercise, assume it is reasonable to regard the sample as representative of these European restaurants. Does the sample provide convincing evidence that the mean January price of this hamburger in Europe is greater than the reported U.S. price? Test the relevant hypotheses using a = 0.05. (Use a statistical computer package to calculate the P-value. Round your test statistic to two decimal places and your P-value to four decimal places.) t = P-value =
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