question archive The management at New Century Bank claims that the mean waiting time for all customers at itsbranches is less than that at the Public Bank, which is its main competitor
The management at New Century Bank claims that the mean waiting time for all customers at itsbranches is less than that at the Public Bank, which is its main competitor
Subject:StatisticsPrice: Bought3
The management at New Century Bank claims that the mean waiting time for all customers at itsbranches is less than that at the Public Bank, which is its main competitor. A business consultingfirm took a sample of 200 customers from the New Century Bank and found that they waited anaverage of 4.5 minutes before being served. Another sample of 300 customers taken from thePublic Bank showed that these customers waited an average of 4.75 minutes before being served.Assume that the standard deviations for the two populations are 1.2 and 1.5 minutes,respectively. Conduct the appropriate hypothesis test. Draw your conclusion at ????=0.01
