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A bank with branches located in a commercial district of a city and in a residential area has the business objective of developing an improved process for serving customers during the noon-to-1 P.M. lunch period. Management decides to first study the waiting time in the current process. The waiting time is defined as the number of minutes that elapses from when the customer enters the line until he or she reaches the teller window. Data are collected from a random sample of 15 customers at each branch. Complete parts (a) through (d) below. E Click the icon to view the bank branch data. b. Determine the p-value in (a) and interpret its meaning. p-value = (Round to three decimal places as needed.) Interpret the p-value. Choose the correct answer below. O A. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in the negative direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. O B. It is the probability the two banks have different population mean waiting times. OC. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in either direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. O D. It is the probability obtaining a sample that yields a t-test statistic farther away from 0 in the positive direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. c. In addition to equal variances, what other assumption necessary in (a)? O A. The samples are specifically chosen and not independently sampled. O B. Both sampled populations are not approximately normal. OC. Both sampled populations are approximately normal. O D. The sample sizes must be equal. d. Construct and interpret a 95% confidence interval estimate of the difference between the population means between the two branches. The 95% confidence interval is SH, -H,s. (Round three decimal places as needed.)

A bank with branches located in a commercial district of a city and in a residential area has the business objective of developing an improved process for serving customers during the noon-to-1 P.M. lunch period. Management decides to first study the waiting time in the current process. The waiting time is defined as the number of minutes that elapses from when the customer enters the line until he or she reaches the teller window. Data are collected from a random sample of 15 customers at each branch. Complete parts (a) through (d) below. E Click the icon to view the bank branch data. b. Determine the p-value in (a) and interpret its meaning. p-value = (Round to three decimal places as needed.) Interpret the p-value. Choose the correct answer below. O A. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in the negative direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. O B. It is the probability the two banks have different population mean waiting times. OC. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in either direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. O D. It is the probability obtaining a sample that yields a t-test statistic farther away from 0 in the positive direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. c. In addition to equal variances, what other assumption necessary in (a)? O A. The samples are specifically chosen and not independently sampled. O B. Both sampled populations are not approximately normal. OC. Both sampled populations are approximately normal. O D. The sample sizes must be equal. d. Construct and interpret a 95% confidence interval estimate of the difference between the population means between the two branches. The 95% confidence interval is SH, -H,s. (Round three decimal places as needed.)

MATLAB: An Introduction with Applications
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 bank with branches located in a commercial district of a city and in a residential area has the business objective of developing an improved process for serving customers during the noon-to-1 P.M. lunch period. Management decides to first study the waiting time in the current process. The waiting time is defined as the number of minutes that elapses from when the customer enters the line until he or she reaches the teller window. Data are collected from a random sample of 15 customers at each branch. Complete parts (a) through (d) below. Click the icon to view the bank branch data. b. Determine the p-value in (a) and interpret its meaning. p-value = (Round to three decimal places as needed.) Interpret the p-value. Choose the correct answer below. A. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in the negative direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. B. It is the probability the two banks have different population mean waiting times. C. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in either direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. D. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in the positive direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. c. In addition to equal variances, what other assumption is necessary in (a)? A. The samples are specifically chosen and not independently sampled. B. Both sampled populations are not approximately normal. C. Both sampled populations are approximately normal. D. The sample sizes must be equal. d. Construct and interpret a 95% confidence interval estimate of the difference between the population means between the two branches. The 95% confidence interval is (Round to three decimal places as needed.)
Transcribed Image Text:A bank with branches located in a commercial district of a city and in a residential area has the business objective of developing an improved process for serving customers during the noon-to-1 P.M. lunch period. Management decides to first study the waiting time in the current process. The waiting time is defined as the number of minutes that elapses from when the customer enters the line until he or she reaches the teller window. Data are collected from a random sample of 15 customers at each branch. Complete parts (a) through (d) below. Click the icon to view the bank branch data. b. Determine the p-value in (a) and interpret its meaning. p-value = (Round to three decimal places as needed.) Interpret the p-value. Choose the correct answer below. A. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in the negative direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. B. It is the probability the two banks have different population mean waiting times. C. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in either direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. D. It is the probability of obtaining a sample that yields a t-test statistic farther away from 0 in the positive direction than the computed test statistic if there is no difference in the mean waiting time between commercial and residential banks. c. In addition to equal variances, what other assumption is necessary in (a)? A. The samples are specifically chosen and not independently sampled. B. Both sampled populations are not approximately normal. C. Both sampled populations are approximately normal. D. The sample sizes must be equal. d. Construct and interpret a 95% confidence interval estimate of the difference between the population means between the two branches. The 95% confidence interval is (Round to three decimal places as needed.)
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