Question
bank manger has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours .they want
bank manger has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours .they want to lower the waiting time less than six min.in this case we want to investigate whether the sample of 100 waiting times provide evidence to support the claim that M is less than 6 min.A Moree detailed analysis has finally convinced the business analytics team that the population standard deviation is unknown ,,
e.Use critical values (Method 1)to test Ho versus H a at a=0.05
Reject H0?
why ?
F.Also, use critical values (Method 1) to test H0 versus Ha at a=0.01
Reject H0?
why?
g.Using the information in part e,calculaate the p-value and use it (Method 2) to test H0 versus Ha at each of a=0.05 and a=0.01
Reject H0?
Why?
h.Using only the first 20 waiting times in the "wait time " data set ,repeat g to test H0 versus Ha at each of a =0.05 what is the impact of a larger sample in such statistical inferences ?
Reject H0?
why?
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