Basic Business Statistics, Student Value Edition
14th Edition
ISBN: 9780134685113
Author: Mark L. Berenson, David M. Levine, David F. Stephan, Kathryn Szabat
Publisher: PEARSON
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Chapter 3, Problem 18PS
Suppose that another bank branch, location in a residential area, it also concerned with the noon-to-1.00 P.M. Lunch hour the waiting time, in minutes collected from a sample of 15 customers during this hour, are stored in Bank 2.
a. Compute the
b. Compute the variance, standard deviation,
c. Are the data skewed? If so, how?
d. As a customer walk into the branch office during lunch hour, he asked the branch manager how long he can expect to wait. The branch manager replies “Almost certainly less than five minutes.� On the basis of the result of (a) through (c) evaluate the accuracy of this statement.
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Chapter 3 Solutions
Basic Business Statistics, Student Value Edition
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