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The customers at a bank complained about long lines and the time they had to spend waiting for service. It is known that the customers at this bank had to wait 11 minutes, on average, before being served. The management made some changes to reduce the waiting time for its customers. A sample of 61 customers taken after these changes were made produced a mean waiting time of 10.2 minutes with a standard deviation of 2.9 minutes. Using this sample mean, the bank manager displayed a huge banner inside the bank mentioning that the mean waiting time for customers has been reduced by new changes. Do you think the bank manager's claim is justifiable? Use a0.5% significance level to answer this question. Use both approaches. Use the p-value approach. Use the t distribution table to find a range for the p-value. Enter the exact values for the range. i

The customers at a bank complained about long lines and the time they had to spend waiting for service. It is known that the customers at this bank had to wait 11 minutes, on average, before being served. The management made some changes to reduce the waiting time for its customers. A sample of 61 customers taken after these changes were made produced a mean waiting time of 10.2 minutes with a standard deviation of 2.9 minutes. Using this sample mean, the bank manager displayed a huge banner inside the bank mentioning that the mean waiting time for customers has been reduced by new changes. Do you think the bank manager's claim is justifiable? Use a0.5% significance level to answer this question. Use both approaches. Use the p-value approach. Use the t distribution table to find a range for the p-value. Enter the exact values for the range. i

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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The customers at a bank complained about long lines and the time they had to spend waiting for service. It is known that the customers at this bank had to wait 11 minutes, on average, before being served. The management made some changes to reduce the waiting time for its customers. A sample of 61 customers taken after these changes were made produced a mean waiting time of 10.2 minutes with a standard deviation of 2.9 minutes. Using this sample mean, the bank manager displayed a huge banner inside the bank mentioning that the mean waiting time for customers has been reduced by new changes. Do you think the bank manager's claim is justifiable? Use a 0.5% significance level to answer this question. Use both approaches. Use the p-value approach. Use the t distribution table to find a range for the p-value. Enter the exact values for the range. i < p-value < i Use the critical-value approach. Round your answers to three decimal places. Observed value = i Critical value = i Conclusion: The manager's claim is
Transcribed Image Text:The customers at a bank complained about long lines and the time they had to spend waiting for service. It is known that the customers at this bank had to wait 11 minutes, on average, before being served. The management made some changes to reduce the waiting time for its customers. A sample of 61 customers taken after these changes were made produced a mean waiting time of 10.2 minutes with a standard deviation of 2.9 minutes. Using this sample mean, the bank manager displayed a huge banner inside the bank mentioning that the mean waiting time for customers has been reduced by new changes. Do you think the bank manager's claim is justifiable? Use a 0.5% significance level to answer this question. Use both approaches. Use the p-value approach. Use the t distribution table to find a range for the p-value. Enter the exact values for the range. i < p-value < i Use the critical-value approach. Round your answers to three decimal places. Observed value = i Critical value = i Conclusion: The manager's claim is
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