Question

A bank calculated the waiting time (to be served) for a random sample of 18 customers one day. The mean waiting time for the sample was 3.1 minutes and the standard deviation of the waiting times was 1.3 minutes. The bank is aiming for wait times less than 4 minutes. For the test with hypotheses H0:μ= 4 vs Ha:μ <4, the P-value is 0.0046.19.

Part 1: Circle Yes or No if this hypothesis test is significant at the following levels:

Yes    No      Significant at theα= 0.001 level?

Yes    No      Significant at theα= 0.01 level?20.

Part 2: The bank will consider this a practical difference if the wait time is 0.33 minutes less than 4 minutes.What is the highest confidence level you can use in order to make a confidence interval that lies entirely below 3.66 minutes? (In other words how confident are you that you have a practical difference?)

Answer 1

ANSWER:;

Part 1.

No, significant at the =0.001 level.

Yes, significant at the =0.01 level.

Part 2.

Here the confidence interval is:

thus the confidence level is 0.9574

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