Question

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 of the sample of 104 bank
customer waiting times is x¯x¯ = 5.46. If we let *µ* denote
the mean of all possible bank customer waiting times using the new
system and assume that *σ* equals 2.43:

**(a)** Calculate 95 percent and 99 percent
confidence intervals for *µ*. **(Round your answers to
3 decimal places.)**

95 percent confidence intervals for µ
is |
[, ]. |

99 percent confidence intervals for µ
is |
[, ]. |

(Click to select)NoYes , 95 percent interval is (Click to select)belowabove 6.
(Click to select)YesNo , 99 percent interval extends (Click to select)abovebelow 6.
(Click to select)FairlyNot confident, since 95 percent CI is (Click to select)belowabove 6 while 99 percent CI contains 6. |

Answer #2

answered by: anonymous

. Recall that a bank manager has
developed a new system to reduce the time customers spend waiting
for teller service during peak hours. The manager hopes the new
system will reduce waiting times from the current 9 to 10 minutes
to less than 6 minutes.
Suppose the manager wishes to use the
random sample of 75 waiting times to support the
claim that the mean waiting time under the new system is shorter
than six minutes.
Letting μ represent...

4. A bank manager has developed a new system to reduce the time
customers spend waiting for teller service during peak hours. The
manager hopes that the new system will reduce waiting times from
the current 9 to 10 minutes to less than 6 minutes. a. Set up the
null and alternative hypotheses needed if we wish to attempt to
provide evidence supporting the claim that the mean waiting time is
shorter than six minutes. b. The mean and the...

Suppose a bank manager has developed a new system to reduce
customer wait time at branches for teller services. She obtains a
sample of 100 customer wait times, and calculates the sample mean
wait time to be 5.65 minutes. She knows that the population
standard deviation is 1.20 minutes. Suppose the bank manager wants
to ensure that the margin of error of her 95% confidence interval
is no more than 0.20 minutes. How large a sample should she
obtain?
C.I....

8.27. The PNC bank manager of WMU branch has developed a new
system to reduce the time customers spend waiting for teller
service during peak hours. The manager hopes the new system will
reduce waiting times from the current nine to ten minutes to less
than 6 minutes.Average waiting time was obtained as 5.46 based on a
random sample of 25 waiting times. Is there enough evidence at the
5% level of significance to validate managers claim? Assume that
the...

The mean and the standard deviation of the sample of 100 bank
customer waiting times are x⎯⎯ = 5.04 and s = 2.382. Calculate a
t-based 95 percent confidence interval for µ, the mean of all
possible bank customer waiting times using the new system.
Are we 95 percent confident that µ is less than 6 minutes?.
(Choose the nearest degree of freedom for the given sample size.
Round your answers to 3 decimal places.) The t-based 95 percent
confidence...

The mean and the standard deviation of the sample of 100 bank
customer waiting times are x¯
= 5.10 and s = 2.113. Calculate a t-based 95
percent confidence interval for µ, the mean of all
possible bank customer waiting times using the new system. Are we
95 percent confident that µ is less than 6 minutes?.
Assume normality. (Choose the nearest degree of freedom for
the given sample size. Round your answers to 3 decimal
places.)
The
t-based 95...

The bank manager wants to show that the new system reduces
typical customer waiting times to less than 6 minutes. One way to
do this is to demonstrate that the mean of the population of all
customer waiting times is less than 6. Letting this mean be
µ, in this exercise we wish to investigate whether the
sample of 93 waiting times provides evidence to support the claim
that µ is less than 6.
For the sake of argument, we...

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:...

Review the Payment Time Case Study and Data Set. Develop a
700-word report including the following calculations and using the
information to determine whether the new billing system has reduced
the mean bill payment time: Assuming the standard deviation of the
payment times for all payments is 4.2 days, construct a 95%
confidence interval estimate to determine whether the new billing
system was effective. State the interpretation of 95% confidence
interval and state whether or not the billing system was...

A manager of a cafeteria wants to estimate the average time
customers wait before being served. A sample of 51 customers has an
average waiting time of 8.4 minutes with a standard deviation of
3.5 minutes.
a) With 90% confidence, what can the manager conclude about the
possible size of his error in using 8.4 minutes to estimate the
true average waiting time?
b) Find a 90% confidence interval for the true average customer
waiting time.
c) Repeat part (a)...

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