Question

1. 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 average of 7 minutes. Assume that the population standard deviation for waiting times is 2.47 minutes. The manager takes a random sample of 100 waiting times and finds that the average waiting time for the sample is 5.46 minutes. Conduct a hypothesis test to determine whether, at the 5% significance level, the average waiting time under the new system is less than 7 minutes. a. State the null and alternative hypotheses. b. Calculate the value of the test statistic. c. Draw the critical region and identify the critical value. d. Assess the evidence (e.g., does the test statistic fall into the critical region). e. State your conclusion in terms of the problem

Answer 1

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