A bank branch located in a commercial district of a city has the business objective of improving the process for serving customer during the noon-to-1:00 p.m. lunch period. The waiting time (defined as the time the customer enters the line until he or she reaches the teller window) of a random sample of 15 customers is collected, and the results are organized and stored in Bank1. These data are: a. At the 0.05 level of significance, is there evidence that the population mean waiting time is less than 5 minutes? b. What assumption about the population distribution is needed in order to conduct the t test in (a)? c. Construct a boxplot or a normal probability plot to evaluate the assumption made in (b). d. Do you think that the assumption needed in order to conduct the t test in (a) is valid? Explain. e. As a customer walks into the branch office during the lunch hour, she asks the branch manager how long can expect to wait. The branch manager replies, “Almost certainly not longer than 5 minutes. “On the basis of the results of (a), evaluate this statement.
A bank branch located in a commercial district of a city has the business objective of improving the process for serving customer during the noon-to-1:00 p.m. lunch period. The waiting time (defined as the time the customer enters the line until he or she reaches the teller window) of a random sample of 15 customers is collected, and the results are organized and stored in Bank1. These data are: a. At the 0.05 level of significance, is there evidence that the population mean waiting time is less than 5 minutes? b. What assumption about the population distribution is needed in order to conduct the t test in (a)? c. Construct a boxplot or a normal probability plot to evaluate the assumption made in (b). d. Do you think that the assumption needed in order to conduct the t test in (a) is valid? Explain. e. As a customer walks into the branch office during the lunch hour, she asks the branch manager how long can expect to wait. The branch manager replies, “Almost certainly not longer than 5 minutes. “On the basis of the results of (a), evaluate this statement.
Solution Summary: The author explains the five steps of the p-value approach to determine whether the mean waiting time is less than 5 minutes.
A bank branch located in a commercial district of a city has the business objective of improving the process for serving customer during the noon-to-1:00 p.m. lunch period. The waiting time (defined as the time the customer enters the line until he or she reaches the teller window) of a random sample of 15 customers is collected, and the results are organized and stored in Bank1. These data are:
a. At the 0.05 level of significance, is there evidence that the population mean waiting time is less than 5 minutes?
b. What assumption about the population distribution is needed in order to conduct the t test in (a)?
c. Construct a boxplot or a normal probability plot to evaluate the assumption made in (b).
d. Do you think that the assumption needed in order to conduct the t test in (a) is valid? Explain.
e. As a customer walks into the branch office during the lunch hour, she asks the branch manager how long can expect to wait. The branch manager replies, “Almost certainly not longer than 5 minutes. “On the basis of the results of (a), evaluate this statement.
Features Features Normal distribution is characterized by two parameters, mean (µ) and standard deviation (σ). When graphed, the mean represents the center of the bell curve and the graph is perfectly symmetric about the center. The mean, median, and mode are all equal for a normal distribution. The standard deviation measures the data's spread from the center. The higher the standard deviation, the more the data is spread out and the flatter the bell curve looks. Variance is another commonly used measure of the spread of the distribution and is equal to the square of the standard deviation.
Please could you explain why 0.5 was added to each upper limpit of the intervals.Thanks
28. (a) Under what conditions do we say that two random variables X and Y are
independent?
(b) Demonstrate that if X and Y are independent, then it follows that E(XY) =
E(X)E(Y);
(e) Show by a counter example that the converse of (ii) is not necessarily true.
1. Let X and Y be random variables and suppose that A = F. Prove that
Z XI(A)+YI(A) is a random variable.
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