Statistics Solutions

[Solution] A local bank claims that the mean waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting

Question: A local bank claims that the mean waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank's claim at the 0.05 significance level. State (1) the null and alternative hypotheses, (2) the critical value, (3) the test statistic, (4) the decision and (5) the conclusion.

Local Bank Competitor
Sample Size \[{{n}_{1}}=45\] \[{{n}_{2}}=50\]
Average waiting time in minutes \[{{\bar{X}}_{1}}=2.3\,\text{min}\] \[{{\bar{X}}_{2}}=2.6\,\text{min}\]
Sample Standard deviation \[{{s}_{1}}=1.1\] \[{{s}_{2}}=1.0\]

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