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Queuing theory is the study waiting. Many banks are interested in the mean amount of time...

Queuing theory is the study waiting. Many banks are interested in the mean amount of time their customers spend waiting on line. Chase bank says their average wait time is 3 minutes with a population standard deviation of 1.25 minutes. To prove this the bank takes a random sample of 1250 people, and finds that their average time waiting on line is 3.73 minutes.

A) construct a 99% confidence interval estimate for the population mean waiting time at Fleet.

B) what distribution did you use to calculate the confidence interval in part a. and why did you use it?

C) interpret the confidence interval verbally

D) Does the banks claim that the average wait time is 3 minutes seem reasonable? Why?
Math   Statistics-And-Probability   
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