The data table contains waiting times of customers at a bank, where customers enter a single waiting line that feeds three teller windows. Test the claim that the standard deviation of waiting times is less than 1.5 minutes, which is the standard deviation of waiting times at the same bank when separate waiting lines are used at each teller window. Use a significance level of 0.05. Complete parts (a) through (d) below.
A. Identify the null and alternative hypotheses for this test.
B. Identify the test statistic for this hypothesis test.
C. Identify the P-value for this hypothesis test.
D. Identify the conclusion for this hypothesis test.
Customer wait time (in minute):
8.6
7.3
6.2
6.5
6.4
6.6
6.6
6.4
7.9
7.6
6.4
8.9
11.2
6.1
8.9
7.8
7.6
6.4
7.1
6.5
6.7
6.7
7.2
6.2
7.2
7.1
6.4
7.8
7.6
6.3
4.2
6.4
7.8
7.1
6.5
6.3
7.9
6.8
7.4
7.4
10.7
6.4
6.5
6.3
7.6
7.3
6.1
7.8
7.9
7.4
5.3
8.8
6.6
6.2
7.1
6.3
7.5
7.3
7.4
6.3
In: Statistics and Probability
Waiting times (in minutes) of customers at a bank where all customers enter a single waiting line and a bank where customers wait in individual lines at three different teller windows are listed below. Find the coefficient of variation for each of the two sets of data, then compare the variation. Bank A (single line): 6.5 6.6 6.7 6.8 7.1 7.4 7.4 7.6 7.7 7.8 Bank B (individual lines): 4.2 5.4 5.8 6.2 6.7 7.7 7.8 8.6 9.3 9.9
The coefficient of variation for the waiting times at Bank A is
nothing%.
(Round to one decimal place as needed.)
In: Statistics and Probability
An offline retail store called CoolStore have customers that are either students or not. Customers can buy a plastic bag or not. We know for a fact that: Twenty-five percent of all customers are students. Among customers that are students, eighty percent buy a plastic bag. Among customers who buy a plastic bag, fifty percent are students. Forty customers are chosen at random. The probability is one percent that the number of customers buying a plastic bag exceeds what number?
In: Statistics and Probability
Companies want to acquire profitable customers. Describe how marketers build relationships with customers
In: Economics
It sampled 40 customers in San Francisco and 50 customers in San Diego to assess potential demand.
On a scale of 1-7 (7 = very likely to buy), San Diego customers had a mean of 3.5 with a standard deviation of 1.1. SF customers had a mean of 4.1 with a standard deviation of 2.3.
Are these markets statistically different?
1.Compute standard error
2.Compute t-calc
3.Compare |t-calc| to 1.96 (95% confidence in our results) and 2.58 (99% confidence)
4.If |t-calc| > 1.96, reject the null with 95% confidence
●
Standard error for 2 means (sxs_x ̅ ) = ?12?1+?22?2√((s_1^2)/n_1 +(s_2^2)/n_2 )
T-calc for 2 means = ?1−?2??(x ̅_1-x ̅_2)/s_x ̅
In: Statistics and Probability
Customers are arriving to a shop according to Poisson process with mean 3.2 customers/hour. What is the probability that the next customer will arrive after 10 minutes but before 33 minutes?
In: Statistics and Probability
Sparkle is one firm of many in the market for toothpaste, which is in long-run equilibrium.
a. Draw a diagram showing Sparkle's demand curve, marginal-revenue curve, average-total-cost curve, and marginal-cost curve. Label Sparkle's profit-maximizing outputand price.
b. What is Sparkle's profit? Explain.
c. On your diagram, show the consumer surplus derived from the purchase of Sparkle toothpaste. Also show the deadweight loss relative to the efficient level ofoutput.
d. If the government forced Sparkle to produce the efficient level of output, what would happen to the firm? What would happen to Sparkle's customers?
In: Economics
KF Services provides Cars' check up its customers. The selling price of each check up is $75 and the variable costs associated are $42,5. The monthly relevant fixed costs are $10,000. Required: a. How many check up are needed to break even? What is the break even point in dollars? b. What is the margin of safety in dollars, assuming sales total $30,000? c. How many check up are needed to achieve a net income of $40,000?, if the tax rate is 20% d. What is the break even level in units, assuming the fixed costs are $5000 plus 10% of revenue received?
In: Accounting
Amazon can generate extra revenue from other businesses by offering its excess capacity to those who need it. Like most companies, Amazon uses only a small portion of its total computing capacity at any time. Its infrastructure is considered by many to be among the most robust in the world.
Write a 1-2 page analysis using the referencing the following criteria:
Think of an idea for a startup business. Explain how this business could utilize Amazon’s Web Services (AWS).
How do the concepts of capacity planning and scalability apply to this case? Apply these concepts both to Amazon and to customers of your business.
In: Economics
Amazon can generate extra revenue from other businesses by offering its excess capacity to those who need it. Like most companies, Amazon uses only a small portion of its total computing capacity at any time. Its infrastructure is considered by many to be among the most robust in the world. Write a 1-2 page analysis using the referencing the following criteria:
In: Computer Science