show detail calculations. 

FIN 3020 Case Studies - FALL 2021 Solve the following three questions: Show detail calculations Q#1: The waiting time for patients at a walk-in health clinic follows a normal distribution with a mean of 15 minutes and a population standard deviation of 5 minutes. The quality-assurance department sampled 50 patients and found that the mean waiting time was 14.25 minutes. At the 0.05 significance level, decide if the sample data support the claim that the mean waiting time is less than 15 minutes. Q#2: A financial planner wants to compare the yield of income and growth mutual funds. Fifty thousand dollars is invested in each of a sample of 35 income and 40 growth funds. The mean increase for a two year period for the income funds is $900. For the growth funds, the mean increase is $875. Income funds have a sample standard deviation of $35; growth funds have a sample standard deviation of $45. Assume that the population standard deviations are equal. At the 0.10 significance level, is there a difference in the mean yields of the two funds? Q#3: Mark Hanna is vice president for human resources for a large manufacturing company. In recent years, he has noticed an increase in absenteeism that he thinks is related to the general health of the employees. Four years ago, in an attempt to improve the situation, he began a fitness program in which employees exercise during their lunch hour. To evaluate the program, he selected a random sample of eight participants and found the number of days each was absent in the six months before the exercise program began and in the last six months. Below are the results. At the .05 significance level, can he conclude that the number of absences has declined? Employee 1 Before 6 After 4 2 5 1 345678 7 6 4 5 6 7 3 356 5 2 13352N 3