Problem: A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below.
Local Bank Competitor Bank
n1 = 25 n2 = 28
x1 = 2.2 min x2 = 2.5 min
s1 = 1.2 min. s2 = 1.1 min
Test the local bank's claim. Use α = .05.
Form to use to successfully complete the General Education Task provide acceptable written response to the following:
a. Given:
b. Need to find.
c. Type of problem and why.
d. Distribution to be used and why?
e. Test statistic. This is either a z-statistic or a t-statistic. Be sure all work is shown, and you explain why you used the distribution you used.
f. Significance level.
g. Null hypothesis.
h. Alternate hypothesis.
i. Critical value.
j. Decision with reason. For example: we reject the null hypothesis because _______ _____ or we accept the null hypothesis because ________________.
k. Interpretation of the results in terms of the original problem. That is, based on the information from the samples, conclude that the waiting time at the local bank is or is not lower than that at the competitor's bank.
l. Identify if your decision will have a possible Type I error or if your decision will have possible Type II error.