A bank manager has developed a new system to reduce the time customers spend waiting for teller service during peak hours. The manager hopes that the new system will reduce waiting times from the current 9 to 10 minutes to less than 6 minutes.Set up the null and alternative hypotheses needed if we wish to attempt to provide evidence supporting the claim that the mean waiting time is shorter than six minutes.The mean and the standard deviation of a sample of 100 bank customer waiting times are 5.46 minutes and 2.475 minutes, respectively. (1) Use the critical value approach to test H0 versus Ha when α = 0.05. (2) Use the p-value approach to test H0 versus Ha when α = 0.05.

Name: A bank manager has developed a new system to reduce the time customers
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Description: A bank manager has developed a new system to reduce the time customers spend waiting for teller service during peak hours. The manager hopes that the new system will reduce waiting times from the current 9 to 10 minutes to less than 6 minutes.Set up

In this question, we have data based on which we have to conduct the hypothesis testing.

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MATLAB: An Introduction with Applications

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ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

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A bank manager has developed a new system to reduce the time customers spend waiting for teller service during peak hours. The manager hopes that the new system will reduce waiting times from the current 9 to 10 minutes to less than 6 minutes.
1. Set up the null and alternative hypotheses needed if we wish to attempt to provide evidence supporting the claim that the mean waiting time is shorter than six minutes.
2. The mean and the standard deviation of a sample of 100 bank customer waiting times are 5.46 minutes and 2.475 minutes, respectively. (1) Use the critical value approach to test H₀ versus H_a when α = 0.05. (2) Use the p-value approach to test H₀ versus H_a when α = 0.05.

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