### Analyzing Bank Waiting TimesA local bank claims that its customer waiting time is the lowest in the area. To verify this claim, a competitor bank recorded the waiting times at both banks. The data collected is analyzed using a significance level of 0.05, assuming equal variances.#### Sample Statistics for a Local Bank and a Competitor's Bank| Statistic | Local Bank (Group 1) | Competitor Bank (Group 2) ||----------------------------------------|----------------------|---------------------------|| **Sample size** | \( n_1 = 46 \) | \( n_2 = 50 \) || **Average waiting time (minutes)** | \( \bar{X}_1 = 2.3 \) mins | \( \bar{X}_2 = 2.6 \) mins || **Sample Standard Deviation (minutes)**| \( s_1 = 1.1 \) | \( s_2 = 1.0 \) |#### Analysis Questions1. **Are the samples dependent or independent?**2. **State your Null/Alternative Hypotheses:** - Null: There is no difference in waiting times between the two banks. - Alternative: The local bank has shorter waiting times than the competitor.3. **What is the test statistic?**4. **What is the p-value?**5. **What are the critical values?**6. **Does the test statistic lie in the rejection region?**7. **Interpret the Result:**8. **Does the result change for a different value of alpha? Explain.**This exercise helps in understanding hypothesis testing and statistical analysis using real-world scenarios.

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

See similar textbooks

Similar questions

Weights (kg) of poplar trees were obtained from trees planted in a rich and moist region. The trees were given different treatments identified in the accompanying table. Use a 0.05 significance level to test the claim that the four treatment categories yield poplar trees with the same mean weight. Is there a treatment that appears to be most effective? LOADING... Click the icon to view the data table of the poplar weights. No Treatment Fertilizer Irrigation Fertilizer and Irrigation 1.24 0.99 0.09 0.93 0.65 0.94 0.63 1.41 0.41 0.55 0.13 1.06 0.15 0.51 0.88 1.49 1.31 1.01 0.84 Determine the null and alternative hypotheses. H0: ▼ mu 1 greater than mu 2 greater than mu 3 greater than mu 4μ1>μ2>μ3>μ4 Exactly two of the population means are equal.Exactly two of the population means are equal. Not all of the population means are equal.Not all of the population means…
Where are the deer? Random samples of square-kilometer plots were taken in different ecological locations of a national park. The deer counts per square kilometer were recorded and are shown in the following table. Mountain Brush Sagebrush Grassland Pinon Juniper 35 17 2 30 53 6 20 19 2 26 19 8 Shall we reject or accept the claim that there is no difference in the mean number of deer per square kilometer in these different ecological locations? Use a 5% level of significance. (a) What is the level of significance? State the null and alternate hypotheses. Ho: μ1 = μ2 = μ3; H1: All three means are different.Ho: μ1 = μ2 = μ3; H1: Exactly two means are equal. Ho: μ1 = μ2 = μ3; H1: Not all the means are equal.Ho: μ1 = μ2 = μ3; H1: At least two means are equal. (b) Find SSTOT, SSBET, and SSW and check that SSTOT = SSBET + SSW. (Use 3 decimal places.) SSTOT = SSBET = SSW = Find d.f.BET, d.f.W, MSBET, and MSW. (Use 2 decimal places for MSBET, and MSW.)…
Another idea is to look at how a team's payroll impacts its home attendance. Higher payroll usually signals more higher-skilled players on a roster which should brings fans to the ballpark to see these players. Create 2 samples based on Team Salary and calculate average attendance, variance of attendance, and standard deviation of attendance for each sample. Sample 1 = 10 teams with the highest team salary Sample 2 = 10 teams with the lowest team salary Tip: Use Excel's sorting tool to sort the data by salary (highest to lowest), and copy the 10 highest and 10 lowest into a separate part of the spreadsheet for easier analysis. Sample 1 Sample 2 Top 10 Team Salary Bottom 10 Team Salary Sample mean attendance mil mil Sample attendance variance mil mil Sample attendance standard deviation mil mil Perform a hypothesis test to determine whether there is a difference in the mean attendance of teams between the two groups…
Find the best point estimate for the ratio of the population variances given the following sample statistics. Round your answer to four decimal places. n1=18n1=18, n2=28n2=28, s12=75.455s12=75.455, s22=55.482s22=55.482 Copy Data
find the sample variance and standard deviation 20, 10, 2, 06, 08
An engineer designed a valve that will regulate water pressure on an automobile engine. The engineer designed the valve such that it would produce a mean pressure of 5.5 pounds/square inch. It is believed that the valve performs above the specifications. The valve was tested on 24 engines and the mean pressure was 5.7 pounds/square inch with a variance of 0.49. A level of significance of 0.01 will be used. Assume the population distribution is approximately normal. Make the decision to reject or fail to reject the null hypothesis.
Here is a sample data set. Frequency 153.1 201.4 209.3 221.3 225.4 228.8 232.8 278.7 282.5 282.6 283.4 290.6 342.9 342.9 342.9 345.2 349.2 358.4 362.8 370.5 379.8 387.9 390.7 403.9 404.3 427.9 434.9 434.9 441.2 443 445 449.4 450.6 460.4 468.5 469.4 480.6 482 489.6 515.6 484.8 488.9 488.9 488.9 525.7 526.5 537.1 537.9 614.3 685.1 739.2 751.7 557.6 599.9 10 8 6 4 2 15000500050005608500050005000 length (cm) Find the first quartile for this data set. Q₁ = Find the third quartile for this data set. Q3= = Find the interquartile range for this data set. IQR = Find the lower fence separating outliers from usual values. Fence low = Find the upper fence separating outliers from usual values. Fence high
Here is a sample data set. 382.3 383 387.8 394.3 395.4 406.1 420.6 421.4 438.2 439.2| 441.4 442 445 445 445 445.3 454.2 454.8 456.2 456.3 465.4 466.3 466.9 474.5 475.4 482.4 488.3 488.3 490.1 | 491.2 491.7 493.3 493.7 495 498.6 498.7 499.9 500.6 501 502 502 502 514.2 521 523.2 525.7 526.4 528.6 530.5 | 560.5 564.5 || 587.5 608 616 20 15 10 5 350 400 450 500 550 600 650 length (cm) Find the minimum for this data set. min = Find the first quartile for this data set. Frequency
A. Determine the test statistic B. What are the critical values C. What is the p value
Where are the deer? Random samples of square-kilometer plots were taken in different ecological locations of a national park. The deer counts per square kilometer were recorded and are shown in the following table. Mountain Brush Sagebrush Grassland Pinon Juniper 33 18 10 27 57 4 22 18 2 29 26 13 Shall we reject or accept the claim that there is no difference in the mean number of deer per square kilometer in these different ecological locations? Use a 5% level of significance. (b) Find SSTOT, SSBET, and SSW and check that SSTOT = SSBET + SSW. (Use 3 decimal places.) SSTOT = SSBET = SSW = Find d.f.BET, d.f.W, MSBET, and MSW. (Use 2 decimal places for MSBET, and MSW.) dfBET = dfW = MSBET = MSW = Find the value of the sample F statistic. (Use 3 decimal places.)What are the degrees of freedom? (numerator) (denominator) Make a summary table for your ANOVA test. Source ofVariation Sum ofSquares Degrees ofFreedom MS…
a. (True or False) The weekly consumption of favorite beverages from this survey hasapproximately a normal distribution, explain your decision. b. Based on the histogram, which one is greater: mean or median? Explain why.c. Which summary statistic would be a better representation of the center for this sample:mean or median?

Recommended textbooks for you

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

MATLAB: An Introduction with Applications

Statistics

ISBN:

9781119256830

Author:

Amos Gilat

Publisher:

John Wiley & Sons Inc

Probability and Statistics for Engineering and th…

Statistics

ISBN:

9781305251809

Author:

Jay L. Devore

Publisher:

Cengage Learning

Statistics for The Behavioral Sciences (MindTap C…

Statistics

ISBN:

9781305504912

Author:

Frederick J Gravetter, Larry B. Wallnau

Publisher:

Cengage Learning

Elementary Statistics: Picturing the World (7th E…

Statistics

ISBN:

9780134683416

Author:

Ron Larson, Betsy Farber

Publisher:

PEARSON

The Basic Practice of Statistics

Statistics

ISBN:

9781319042578

Author:

David S. Moore, William I. Notz, Michael A. Fligner

Publisher:

W. H. Freeman

Introduction to the Practice of Statistics

Statistics

ISBN:

9781319013387

Author:

David S. Moore, George P. McCabe, Bruce A. Craig

Publisher:

W. H. Freeman

SEE MORE TEXTBOOKS