An experiment was conducted to compare the mean length of time required for two Wells Fargo employee
Question: An experiment was conducted to compare the mean length of time required for two Wells Fargo employees to complete the paperwork for servicing a residential mortgage application form. Forty customers were randomly assigned to each employee and the mortgage application servicing time was recorded in minutes for each customer. The first employee took an average of 11.86 minutes with a standard deviation of 3.56 minutes to service the residential mortgage application. The second employee took an average of 13.98 minutes with a standard deviation of 4.01 minutes to service the residential mortgage application. Do these data provide sufficient evidence to indicate that first employee is more efficient than the second employee in servicing residential mortgage accounts? Test the null hypothesis using a six percent significance level. Assume the population standard deviation is known
Solution Format: Word Document
