A random sample of 35 individuals in the waiting line for service by a bank officer is selected. From the sample, we found that the mean waiting time was 22 minutes with a standard deviation of 8 minutes. The bank officer wants to estimate the mean waiting time. i) Define the population parameter of interest in this problem. ii) Calculate the margin of error for a 90% confidence interval. iii) Using a 90% confidence level, estimate the population mean waiting time for all individuals waiting in the service line.

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Chapter1: Starting With Matlab
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A random sample of 35 individuals in the waiting line for service by a bank
officer is selected.
From the sample, we found that the mean waiting time was 22 minutes with a
standard deviation of 8 minutes. The bank officer wants to estimate the
mean waiting time.
i) Define the population parameter of interest in this problem.
ii) Calculate the margin of error for a 90% confidence interval.
iii) Using a 90% confidence level, estimate the population mean waiting time
for all individuals waiting in the service line.
Ans:
iii) (19.78, 24.22 minutes)
Transcribed Image Text:A random sample of 35 individuals in the waiting line for service by a bank officer is selected. From the sample, we found that the mean waiting time was 22 minutes with a standard deviation of 8 minutes. The bank officer wants to estimate the mean waiting time. i) Define the population parameter of interest in this problem. ii) Calculate the margin of error for a 90% confidence interval. iii) Using a 90% confidence level, estimate the population mean waiting time for all individuals waiting in the service line. Ans: iii) (19.78, 24.22 minutes)
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