Answered: The customers at a bank complained…

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

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 8 minutes, on
average, before being served. The management made some changes to reduce the waiting
time for its customers. A sample of 60 customers taken after these changes were made
produced a mean waiting time of 7.5 minutes with a standard deviation of 2.1 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 the 2.5% significance level to
answer this question. Use both approaches.

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