Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Management Expert

Historically, the average waiting time spent in a queue on Friday afternoon at a bank's city branch was 10 minutes. To determine whether their new multi-queuing system constitutes an improvement, a random sample of 15 customers was taken and their waiting time recorded. The results are in the X1 column of the data file P14.12 which can be found in a folder under the CML Quizzes tab. Assume the distribution of waiting times is normally distributed.

1. State the direction of the alternative hypothesis used to test whether there is an improvement in average waiting time. Type gt (greater than), ge (greater than or equal to), lt (less than), le (less than or equal to) or ne (not equal to) as required in the box. 

2. Calculate the test statistic correct to three decimal places (hint: use Descriptive Statistics to calculated the standard deviation and sample mean). 

3. Use Kaddstat to determine the p-value for the test correct to four decimal places. 

4. Is the null hypothesis rejected for this test if a 5% level of significance is used? Type yes or no. 

5. Regardless of your answer for 4, if the null hypothesis was rejected, can we conclude that the average waiting time has improved with the new queuing system? Type yes or no.  

Y X1 X2

28 12.6 134

43 11.4 126

45 11.5 143

49 11.1 152

57 10.4 143

68 9.6 147

74 9.8 128

81 8.4 119

82 8.8 130

86 8.9 135

101 8.1 141

112 7.6 123

114 7.8 121

119 7.4 129

124 6.4 135

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M92495868
  • Price:- $20

Priced at Now at $20, Verified Solution

Have any Question?


Related Questions in Business Management

What is the purpose of using a diagnostic instrumentmodel

What is the purpose of using a diagnostic instrument/model to help manage change. Describe the key aspects that an instrument/model should effectively identify or outline in order to facilitate change.

Describe the crawl-walk-run cwr metaphor for leader

Describe the Crawl-walk-run (CWR) metaphor for leader development?

Identify at least six stakeholders which exist in your

Identify at least six stakeholders which exist in your company's business environment, classify each as being either primary or secondary, and rank them in order of importance. Next, put yourself in the place of each sta ...

Discuss how strategic management differs from

Discuss how Strategic Management differs from Economics Discuss how Strategic Management differs from Business Management

Suppose amys utility function is 4xy where x is consumption

Suppose Amy's utility function is 4XY, where X is consumption of beer and Y is consumption of pizza. Does the principle of diminishing MRS depend on diminishing marginal utility of X and Y?

According to firestions tire recall case discuss and

According to Firestion's tire recall case, discuss and evaluate the role of leadership when commercial realities conflict with public concerns, ethical dilemmas that ensue for leaders in such situation and how you sugges ...

How could legislation impact on operations within your

How could legislation impact on operations within your organisation in relation to innovation, project management, and operational planning? Briefly outline any relevant requirements (e.g. intellectual property, WHS).

What is the difference between a market structure and a

What is the difference between a market structure and a characteristic of market structure? What are the main characteristics of the four basic market models?

Show examples of organizations that are more focused on

Show examples of organizations that are more focused on simply bringing in money to the organization and those that are more focused on building relationships. What are the differences in how they conduct fundraising act ...

What are some strategies for creating a culture of

What are some strategies for creating a culture of change?

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As