In Problem 13.7 on page 531, you used the total number of customers in the store to
Question:
a. Construct a 95% confidence interval estimate of the mean waiting time for all customers when there are 20 customers in the store.
b. Construct a 95% prediction interval of the waiting time for an individual customer when there are 20 customers in the store.
c. Why is the interval in (a) narrower than the interval in (b)?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Basic Business Statistics Concepts And Applications
ISBN: 9780132168380
12th Edition
Authors: Mark L. Berenson, David M. Levine, Timothy C. Krehbiel
Question Posted: