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A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Local Bank (n = 46, avg wait time x = 2.3, sample standard deviation s = 1.1) Competitor Bank (n = 50, avg wait time x = 2.6, sample standard deviation s = 1.0) Are the samples dependent or independent? State your Null/Alternative hypotheses What is the test - statistic? What is the p-value? What are the critical values? Does the test - statistic lie in the rejection region? Interpret the Result? Does the result change for a different value of alpha? Explain? FORMULAS to get answers MUST BE SHOWN with figures

A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Local Bank (n = 46, avg wait time x = 2.3, sample standard deviation s = 1.1) Competitor Bank (n = 50, avg wait time x = 2.6, sample standard deviation s = 1.0) Are the samples dependent or independent? State your Null/Alternative hypotheses What is the test - statistic? What is the p-value? What are the critical values? Does the test - statistic lie in the rejection region? Interpret the Result? Does the result change for a different value of alpha? Explain? FORMULAS to get answers MUST BE SHOWN with figures

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 local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Local Bank (n = 46, avg wait time x = 2.3, sample standard deviation s = 1.1) Competitor Bank (n = 50, avg wait time x = 2.6, sample standard deviation s = 1.0) Are the samples dependent or independent? State your Null/Alternative hypotheses What is the test - statistic? What is the p-value? What are the critical values? Does the test - statistic lie in the rejection region? Interpret the Result? Does the result change for a different value of alpha? Explain? FORMULAS to get answers MUST BE SHOWN with figures
Transcribed Image Text:A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Local Bank (n = 46, avg wait time x = 2.3, sample standard deviation s = 1.1) Competitor Bank (n = 50, avg wait time x = 2.6, sample standard deviation s = 1.0) Are the samples dependent or independent? State your Null/Alternative hypotheses What is the test - statistic? What is the p-value? What are the critical values? Does the test - statistic lie in the rejection region? Interpret the Result? Does the result change for a different value of alpha? Explain? FORMULAS to get answers MUST BE SHOWN with figures
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