I completed the following assessment; however, the instructor states "the mean is wrong in the TIQ problem leading to the wrong testing statistic." Below are the instructions for the assessment:

Assessment Directions

Imaginethat you are a business consultant tasked with sharingthe concepts below with a team of interns who will be supporting the research aspects tied to a new initiative requiring knowledge about how economic events impacteconomicactivity and economic concentration. The use of charts and tables to illustrate data is highly encouraged to help the interns connect the dots.

Create areport incorporating the following:

• Part 1: Economic Events & Activity Analysis

ReviewtheCompetency 1 Resources: Economic Fundamentals.

Writea 500- to 750-word analysis (Part 1 of your report) assessing how 2 of the following major economic events influenced supply, demand, and economic equilibrium in U.S. economic activity:

• Rapid price increases, such as those caused by the 1973 oil embargo or the aftermath of a major hurricane
• Dramatic employment drops, such as the combined impact of the 2006 housing bubble burst and the subsequent Great Recession
• Crippling interest rates imposed by the Federal Reserve, such as those during the 1975-1985 time period
• Collapse of the Soviet Union in 1991 and the end of the Cold War and the "peace dividend"
• The dot-com bubble from 1994 to 2000, and the subsequent dot-com crash

Citeat least 2 academically credible sources. The use of charts and tables to illustrate data is highly encouraged.

Part 2: Economic Concentration Evaluation

Review theCompetency 1 Resources: Factors of Production & Economic Concentration.

Select 1 of the economic concentrations (clusters) below:

• Seattle-Tacoma-Olympia, WA aerospace / defense industry
• Central California winemaking industry
• Hollywood movie industry
• Silicon Valley Technology hub
• Texas / Louisiana Gulf Coast crude oil and natural gas production and refining
• Pre-1994 vs Post-1994 US auto and light truck production and the reasons for the change in economic concentration

Write a 700- to 1,050-word evaluation (Part 2 of your report) of economists' assessments of the role the 4 factors of production played in determining how the economic concentration you selected has evolved. Complete the following in your evaluation:

• Analyze how the economic concentration in the area you chose was influenced by competition and pricing.
• Analyze how the economic concentration in the area you chose influenced the supply chain.
• Analyze which of the 4 factors of production were the most and least important in determining the economic concentration of the area you chose.
• Predict changes you anticipate for the area of economic concentration you chose. Support your predictions.

Consider the resources provided and other academically appropriate sources.

Citeat least 2 academically credible sources. The use of charts and tables to illustrate data is highly encouraged.

CompileParts 1 and 2 into one report.

Submityour report.

Here's my completed assessment:

Call Center Waiting Time Part I & II

Perform a test of hypothesis to determine whether the average TIQ (Time in Queue) is lower than the industry standard of 2.5 minutes (150 seconds). Use a significance level a=0.05. Answer: Since the calculated t-statistics doesn't fall within the rejected region, we are unable to reject the hypothesis. Therefore, there is insufficient evidence to state the average Time in Queue is lower than 150 seconds (or 2.5 minutes).

Information:

Mean = 160.896

Standard Deviation = 159.933

Sample Size n = 1674

Hypothesis Mean = 150

Null Hypothesis Less Than or = 150

Alternative Hypothesis is Greater than 150

Based on the Alpha Level = 0.05.

The Critical Value = 1.645

160.896-150/159.933/sqrt of 1674

10.8961/3.9089 = 2.787

z = 2.787 Greater Than z

Critical z = 1.64 (The Null Hypothesis is Rejected)

P=0.0027

0.0027 is less than 0.05 (The Null is Rejected)

Therefore, the conclusion is the population mean of 160.89 is greater than 150.

Evaluate if the company should allocate more resources to improve its average Time in Queue (TIQ).Since the company's Time in Queue (TIQ) exceeds the Industry Standard of 2.5 minutes (or 150 seconds), additional resources should be allocated to improve their average Time in Queue (TIQ). Increasing the number of Call Service Representatives (CSR) will improve TIQ and decrease wait time. Call centers have determined longer wait times has increased the number of dropped calls; therefore, shortening this time will improve customer service, decreased dropped calls and wait times. Another option is to provide additional training for call center staff. This would ensure they are more efficient in remedying the customer's issue and decrease customer Service Time (ST).

Information:

Z = 2.787 (Greater than 95% target)

TIQ > 150 sec (2.5 mins)

P = 0.0027 (less than 0.05)

Perform a test of hypothesis to determine whether the average Service Time (ST) with service protocol PE (new Protocol) is lower than with the PT (Traditional Protocol). Use a significance level a=0.05. Answer: The Average Service Time (ST) with Service Protocol PE is lower than with the Traditional Protocol (PT).

Information:

Test Static = t.

t = 6.834

Left Tailed Critical Value = -1.646

p-value = 0.000 (Reject the null hypothesis)

Assess if the new protocol served its purpose.Answer:Yes, based on my calculations the new protocol served its purpose. PE (new protocol) lowered the call time by 0.05.

Information:

Mean #1 = 149.280

Mean #2 = 212.163

Standard Deviation #1 = 185.894

Standard Deviation #2 = 190.580

N #1 = 853

N #2 = 821

H₀: 1=2

H_a:12

Alpha level = 0.05 (df = 1672; total population = -2)

T: Test is > 1.961

Since the T stat = -6.834 > t critical of 1.1961, the NULL Hypothesis is rejected.

Using the P-value (P=0 < 0.05); Therefore, the NULL Hypothesis is rejected.

Population Mean #1is not the same as Population Mean #2 (level of 0.05)

Conclusion

In evaluating the quality of the call center, we must first begin by determining if the TIQ is meeting or exceeding the industry standard. If the TIQ exceeds the industry standard, the organization should allocate additional resources in order to lower their TIQ numbers. Also, if the customer waits too long in the call queue, they may become impatient and hang up, causing an increase in the number of dropped calls. This could potentially impact the organization by lowering its customer satisfaction rating.

Based on the TIQ hypothesis and a significance level of 0.05, there is insufficient information to conclude the Call Center is exceeding the industry standard of 2.5 minutes (or 150 seconds) to answer the calls in the queue. However, there is enough evidence to make a decision about the average Service Time (ST) with the new protocol (PE), which is actually lower than the traditional protocol (PT). The call center should allocate additional resources to improve their average Time in Queue (TIQ). The new protocol (PE) means of 149.28 is smaller than the traditional protocol (PT) means of 212.16. Increasing the number of Call Service Representatives (CSR) will improve TIQ and decrease wait time. Call centers have determined longer wait times has increased the number of dropped calls; therefore, shortening this time will improve customer service, decreased dropped calls and wait times. Another option is to provide additional training for call center staff. This would ensure they are more efficient in remedying the customer's issue. Therefore, implementing the new protocol served its purpose.

I'm confused about what's incorrect in my assessment and the recommendation/conclusion. Please help!