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A local bank has two branches in a city: one in the business center of the city and another-in aresidential area. The bank's operations manager wants to Improve front-office employee scheduling during the lunch hour (12:00-13:00) period. The manager starts with studying the customer waiting times at the two branches and collects data for two groups of 35 customers at each branch. Customers at the business-center branch waited on average 38 minutes, whle those at the residential branch waited 44 minutes on average. Assume that the population standard deviations are 1.8 (businesscenter branch) and 2.5 tresidential branch. a. Considering the real-de problem, determine the point estimate of the unknown quantity that needs to be estimated (Round to two decimal places) b. Determine the critical value needed to compute a Ba confidence interval (Round to two decimal places)

A local bank has two branches in a city: one in the business center of the city and another-in aresidential area. The bank's operations manager wants to Improve front-office employee scheduling during the lunch hour (12:00-13:00) period. The manager starts with studying the customer waiting times at the two branches and collects data for two groups of 35 customers at each branch. Customers at the business-center branch waited on average 38 minutes, whle those at the residential branch waited 44 minutes on average. Assume that the population standard deviations are 1.8 (businesscenter branch) and 2.5 tresidential branch. a. Considering the real-de problem, determine the point estimate of the unknown quantity that needs to be estimated (Round to two decimal places) b. Determine the critical value needed to compute a Ba confidence interval (Round to two decimal places)

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018
18th Edition
ISBN:9780079039897
Author:Carter
Publisher:Carter
Chapter10: Statistics
Section10.6: Summarizing Categorical Data
Problem 10CYU
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A local bank has two branches in a cty: one in the business center of the city and another-in a residential area. The bank's operations manager wants to Improve front-office employee scheduling during the lunch hour (12:00-13:00) period. The manager starts with studying the customer walting times at the two branches and collects data for two groups of 35 customers at each branch. Customers at the business-center branch walted on average 3.8 minutes, whle those at the residential branch waited 4.4 minutes on average, Assume that the population standard deviations are 1.8 (business-center branch) and 2.5 tresidential branch). a. Considering the real-ife problem, determine the point estimate of the unknown quantity that needs to be estimated. (Round to two decimal places.) b. Determine the critical value needed to compute a Bs confidence interval (Round to two decimal places.) c. Compute the confidence interval the operations manager would be interested in computing using the confidence levelin b. Lower boundary- Upper boundary -l (Round to two decimal places.)
Transcribed Image Text:A local bank has two branches in a cty: one in the business center of the city and another-in a residential area. The bank's operations manager wants to Improve front-office employee scheduling during the lunch hour (12:00-13:00) period. The manager starts with studying the customer walting times at the two branches and collects data for two groups of 35 customers at each branch. Customers at the business-center branch walted on average 3.8 minutes, whle those at the residential branch waited 4.4 minutes on average, Assume that the population standard deviations are 1.8 (business-center branch) and 2.5 tresidential branch). a. Considering the real-ife problem, determine the point estimate of the unknown quantity that needs to be estimated. (Round to two decimal places.) b. Determine the critical value needed to compute a Bs confidence interval (Round to two decimal places.) c. Compute the confidence interval the operations manager would be interested in computing using the confidence levelin b. Lower boundary- Upper boundary -l (Round to two decimal places.)
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