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Recall that a bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business
Recall that a bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours. The mean waiting time during peak business hours under the current system is roughly 9 to 10 minutes. The bank manager hopes that the new system will have a mean waiting time that is less than six minutes. The mean ofthe sample of 100 bank customer waiting times in Table 1.9 is :7: = 5.46. If we let _u denote the mean of all possible bank customer waiting times using the new system and assume that 0 equals 2.47: 3 Click here for the Excel Data File to} Calculate 95 percent and 99 percent condence intervals for _u. (Round your answers to 3 decimal places.) 95 percent condence intervals for p is 99 percent condence intervals for p is
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