Question

In: Economics

US Bank has recorded the number of customers who used a downtown ATM during the noon...

US Bank has recorded the number of customers who used a downtown ATM during the noon hour (variable of interest) on 21 randomly selected workdays. The data is given below,
16, 17, 12, 27, 22, 28, 15, 16, 29, 22, 11, 19, 27, 23, 18, 24, 21, 11, 40, 42, 43.
Please show your complete manual work, use statistical notations wherever possible, and do not classify the data in answering the following questions.
​a. Compute the Sample Average of customers using ATM during the noon hour.
b. Compute the 85th percentile of the above raw data (according to the procedure discussed, and explain what your answer means in the context of this problem and plain English. No generic definition please.
c. Compute the values of Sample Variance and Standard Deviation of number of customers using ATM during the noon hour on the randomly selected 21 weekdays.
d. Compute the values of 25th and 75th percentiles. Find the value of Interquartile Deviation (range) of the above raw data.
e. What is (are) the value of mode?
f. Compute the Coefficient of Skewness for the above raw data. Explain what it means in the context of this problem.
g. Find the value of Coefficient of Variation for the above raw data.
What could be the main objective US Bank for computing the above sample summaries?

Solutions

Expert Solution

Rahul Sunny answered 2 years ago
Next > < Previous

Related Solutions

CitiBank recorded the number of customers to use a downtown ATM during the noon hour on...
CitiBank recorded the number of customers to use a downtown ATM during the noon hour on 32 consecutive workdays. I have tried to find the 1st and 3rd quartiles and got 12.5 for the first and 31.5 for the 3rd but my homework thing keeps saying that is wrong, I dont know what to do. 20 36    22    28    5    11    29    32     11 16    15    10    31    38    36...
CitiBank recorded the number of customers to use a downtown ATM during the noon hour on...
CitiBank recorded the number of customers to use a downtown ATM during the noon hour on 32 consecutive workdays. 15 24 20 32 26 38 36 32 32 20 33 26 21 11 5 29 39 5 38 23 35 22 7 6 11 18 39 16 28 32 20 37 (a) Use Excel’s quantile function to find the quartiles and the midhinge. (Round your answers to 2 decimal places.) 1st quartile Median 3rd quartile Midhinge
A bank wants to develop an improved process for serving customers during the noon-to-1pm lunch period....
A bank wants to develop an improved process for serving customers during the noon-to-1pm lunch period. Management decides to first study the waiting time of the current process. Data is collected from a random sample of 15 customer and their waiting time is recorded (in minutes) and is located in the Excel data file for this assignment under the tab bank1. For comparative purposes, similar data is collected from bank2. Bank1: 4.21 5.55 3.02 5.13 4.77 2.34 3.54 3.20 4.50...
a) A bank is interested in studying the number of people who use the ATM. On...
a) A bank is interested in studying the number of people who use the ATM. On average, 2 customers walk up to the ATM during any 10 minute. Find the probability in each case. i) Atleast 5 customer in 20 minutes. ii) Fewer than 6 but more than 2 customer in 10 minutes. b) Anderson Research is a full-service marketing research consulting firm. Recently it was retained to do a project for a major U.S. airline. The airline was considering...
The average number of customers at a window of a certain bank per minute during banking...
The average number of customers at a window of a certain bank per minute during banking hours is four. Find the probability that during a given minute. i. No customers appear ii. Three or fewer customers
1. A grocery store counts the number of customers who arrive during an hour. The average...
1. A grocery store counts the number of customers who arrive during an hour. The average over a year is 29 customers per hour. Assume the arrival of customers follows a Poisson distribution. (It usually does.) Find the probability that at least one customer arrives in a particular one minute period. Round your answer to 3 decimals. Find the probability that at least two customers arrive in a particular 2 minute period. 2. Label each as one of the following...
What has the US bank done during the coronavirus? Any news or article about it.
What has the US bank done during the coronavirus? Any news or article about it.
A survey has been conducted in canteen during the lunch time. The average number of customers...
A survey has been conducted in canteen during the lunch time. The average number of customers arrived in a 5-minute interval is 8. a) What is the probability that exactly 3 customers will arrive in a 2-minute interval? b) What is the probability that less than 3 customers will arrive in a 4-minute interval? c) What is the probability that more than 1 customers will arrive in a 30-second interval?
A local franchise of a national chain of day-old pastry stores recorded the number of customers...
A local franchise of a national chain of day-old pastry stores recorded the number of customers that came in to the store for five weeks this fall. These data are recorded in the attached file. The national franchisor states that the percentage of customers is distributed as follows:   Sunday – 20%, Monday – 8%, Tuesday – 6%, Wednesday – 7%, Thursday – 12%, Friday – 22%, and Saturday – 25%. The manager doesn’t trust the franchisor and wants to show...
Description: Sprint Nextel has the highest rate of customer churn (the number of customers who discontinue...
Description: Sprint Nextel has the highest rate of customer churn (the number of customers who discontinue a service) in the cell phone industry, amounting to 2.45 percent. Over the past two years, Sprint has lost 7 million subscribers. Management wants to know why so many customers are leaving Sprint and what can be done to woo them back. Requirement: Does Data Mining help the company in unfolding the reasons behind why their customers are leaving? Explain why or why not....
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT