Question
A random sample of 25 ATM transactions at the Last Chance Bank revealed a mean transaction time of 2.1 minutes with a standard deviation of
A random sample of 25 ATM transactions at the Last Chance Bank revealed a mean transaction time of 2.1 minutes with a standard deviation of 0.25 minutes. We want to use this information to construct a confidence interval for the true mean time for all transactions at this ATM. An advertisement for the Last Chance Bank claimed that an average ATM transaction can be completed in 2 minutes. Based on your confidence interval, do you think the advertisement is correct? Why or why not?
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Linear Algebra
Authors: Stephen H Friedberg, Arnold J Insel, Lawrence E Spence
4th Edition
0321998898, 9780321998897
