Question: A local bank claims that the 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.  Use the information given below. State the null and alternative hypotheses, the significance level, the critical value, the test statistic, the decision and conclusion.

Local Bank                                  Competitor Bank

Sample size            n ₁ = 45n ₂ =  50

Average Waiting 2.3 min. 2.6 min.

time in minutes

for each sample

Sample standard      s ₁ = 1.1 min.                                        s ₂ = 1.0 min.

Deviation of each

sample

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Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document