Answered step by step
Verified Expert Solution
Question
1 Approved Answer
I am needing assistance solving this please. Thank you! A local bank claims that the waiting time for its customers to be served is the
I am needing assistance solving this please.
A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank's claim. Use the information given below. Use a significance level of .05 and assume the variances are equal. Sample statistics for a local bank and a competitor's bank Local Bank Competitor Bank Sample size n = 46 n = 50 Average waiting time in minutes for each. sample X = 2.3 mins.. Sample Standard Deviation of each Sample S1 = 1. 1 mins 1. Are the samples dependent or independent? 2. State your Null/Alternative hypotheses 3. What is the test-statistic? 4. What is the p-value? 5. What are the critical values? 6. Does the test-statistic lie in the rejection region? 7. Interpret the Result? 8. Does the result change for a different value of alpha? Explain? X2 = 2.6 S2 1.0 mins. = Thank you!
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started