Question
A bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours. The
A bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours. The mean waiting time during peak business hours under the current system is roughly 9 to 10 minutes. The bank manager hopes that the new system will have a mean waiting time that is less than six minutes. The mean of a sample of 100 bank customer waiting times inis 5.46. The population standard deviation of waiting times is 2.47.
What is the upperconfidence limit ofthe 99% confidence interval for the mean waiting time ?Include 2 decimal places in your answer.
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