Question
please provide excel formulas A bank branch located in a commercial district of a city has the business objective of developing an improved process for
please provide excel formulas
A bank branch located in a commercial district of a city has the business objective of developing an improved process for serv-ing customers during the noon-to-1:00 p.m. lunch period. The bank collects the waiting time, the number of minutes that elapses from when a customer joins the waiting line to when the customer begins to interact with a teller, for a sample of 15 customers who arrive during the noon hour.
The waiting times, stored in Bank Waiting , are:
4.21
5.55
3.02
5.13
4.77
2.34
3.54
3.20
4.50
6.10
0.38
5.12
6.46
6.19
3.79
a. Calculate the mean and median.
b. Calculate the variance, standard deviation, range, coefficient of variation, and Z scores. Are there any outliers? Explain.
c. Are the data skewed? If so, how? d. As a customer walks into the branch office during the lunch hour, she asks the branch manager how long she can expect to wait. The branch manager replies, "Almost certainly less than five minutes." On the basis of the results of (a) through (c), eval-uate the accuracy of this statement.
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