Answered: A local bank claims that the waiting…

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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Question

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.

1. Identify what they are given and what they need to find;

2. Identify the type of problem they have been given and the tools necessary to solve the problem;

3. Correctly apply the tools to the information given to set up the problem;

4. Perform mathematically correct calculations to determine a solution;

5. Interpret their results in terms of the original problem.

Sample statistics for a local bank and a competitor's bank
Local Bank
Competitor Bank
Sample size
ni = 46
n2 = 50
Average waiting time in
X, = 2. 3 mins.
X = 2. 6 mins.
minutes for each sample
Sample Standard Deviation
S1 = 1.1 mins
S2 = 1.0 mins.
of each Sample

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