Recall that a bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours. The mean waiting time during peak business hours under the current system is roughly 9 to 10 minutes. The bank manager hopes that the new system will have a mean waiting time that is less than six minutes. The mean of the sample of 92 bank customer waiting times is x = 5.43. If we let u denote the mean of all possible bank customer waiting times using the new system and assume that o equals 2.45:
Recall that a bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours. The mean waiting time during peak business hours under the current system is roughly 9 to 10 minutes. The bank manager hopes that the new system will have a mean waiting time that is less than six minutes. The mean of the sample of 92 bank customer waiting times is x = 5.43. If we let u denote the mean of all possible bank customer waiting times using the new system and assume that o equals 2.45:
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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Transcribed Image Text:(c) Using the 99 percent confidence interval, can the bank manager be 99 percent confident that u is less than six minutes? Explain.
99 percent interval extends
Saved
6.
confident, since 95 percent Cl is
(d) Based on your answers to parts b and c, how convinced are you that the new mean waiting time is less than six minutes?
6 while 99 percent CI contains 6.
Help
![95 percent confidence intervals for u is
99 percent confidence intervals for u is
Recall that a bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during
peak business hours. The mean waiting time during peak business hours under the current system is roughly 9 to 10 minutes. The
bank manager hopes that the new system will have a mean waiting time that is less than six minutes. The mean of the sample of 92
bank customer waiting times is x = 5.43. If we let u denote the mean of all possible bank customer waiting times using the new system
and assume that o equals 2.45:
(a) Calculate 95 percent and 99 percent confidence intervals for u. (Round your answers to 3 decimal places.)
Saved
95 percent interval is
(b) Using the 95 percent confidence interval, can the bank manager be 95 percent confident that is less than six minutes? Explain.
6.
].
1.
Help](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8e0cc74a-3d41-48a3-b725-0bb8c72fee56%2Ff478f839-a107-4731-b34a-6ac240b42021%2Fdhfvta_processed.jpeg&w=3840&q=75)
Transcribed Image Text:95 percent confidence intervals for u is
99 percent confidence intervals for u is
Recall that a bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during
peak business hours. The mean waiting time during peak business hours under the current system is roughly 9 to 10 minutes. The
bank manager hopes that the new system will have a mean waiting time that is less than six minutes. The mean of the sample of 92
bank customer waiting times is x = 5.43. If we let u denote the mean of all possible bank customer waiting times using the new system
and assume that o equals 2.45:
(a) Calculate 95 percent and 99 percent confidence intervals for u. (Round your answers to 3 decimal places.)
Saved
95 percent interval is
(b) Using the 95 percent confidence interval, can the bank manager be 95 percent confident that is less than six minutes? Explain.
6.
].
1.
Help
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