A faster loan processing time produces higher productivity and greater customer satisfaction. A financial services institution wants to establish a baseline for its process by estimating its mean processing time. They also want

MATLAB: An Introduction with Applications
6th Edition
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Author:Amos Gilat
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Chapter1: Starting With Matlab
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Do the 9 steps of hypothesis testing:

A faster loan processing time produces higher productivity and greater customer satisfaction. A financial services institution wants to establish a baseline for its process by estimating its mean processing time. They also want to determine if their mean time differs from a competitor’s claim of 6 hours.

Descriptive Statistics
N Mean StDev SE Mean
7 5.079 1.319
T-Value P-Value
0.498
-1.85
0.114
Transcribed Image Text:Descriptive Statistics N Mean StDev SE Mean 7 5.079 1.319 T-Value P-Value 0.498 -1.85 0.114
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