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READ SECTIONS 10.2-10.5 FROM YK. TABLE 4 IS REQUIRED. PROBLEM 1 [TWO INDEPENDENT SAMPLES] [40 POINTS=10+10+10+10] ANN IS ASSIGNED TO COMPARE EFFICIENCY FOR TWO

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READ SECTIONS 10.2-10.5 FROM YK. TABLE 4 IS REQUIRED. PROBLEM 1 [TWO INDEPENDENT SAMPLES] [40 POINTS=10+10+10+10] ANN IS ASSIGNED TO COMPARE EFFICIENCY FOR TWO MORTGAGE LENDERS (BANK OF AMERICA AND CHASE) TO FIND OUT WHICH IS WORKING HARDER. SHE RECORDED THE TIME SPENT BY 10 LOAN OFFICERS OF EACH BANK. ASSUME THAT THE INDIVIDUAL TIMES ARE NORMALLY DISTRIBUTED WITH UNKNOWN PARAMETERS. THE SAMPLE SUMMARIES ARE SHOWN IN THE TABLE BELOW. AVERAGE TIME FOR BANK OF AMERICA WAS 61.4 MINUTES PER CUSTOMER, WITH THE STANDARD DEVIATION = 5 MINUTES. AVERAGE TIME FOR CHASE WAS 70.2 MINUTES, WITH THE STANDARD DEVIATION=25 MINUTES. SAMPLE SUMMARIES SOURCE BOA CHASE SIZE N = 10 N-10 MEAN (X-BAR) = 61.4 SD S=5 VARIANCE (S)=25 25/10-2.5 V=S/N (X-BAR)2=70.2 S2 15 (S2)=225 225/10=22.5 ANN BELIEVES THAT THE POPULATION VARIANCES ARE EQUAL. WHAT STANDARD ERROR WILL BE ASSESSED BY ANN TO THE DIFFERENCE BETWEEN TWO SAMPLE MEANS? (A) SE=

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