Experience a waiting time in excess of 5 minutes

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Reference no: EM132372727

Suppose a bank? branch, located in a residential? area, is concerned with its service during the? noon-to-1 pm lunch hour. The waiting? times, in? minutes, collected from a sample of 15 customers during this? hour, are listed below. Complete parts? (a) through? (d) below.

9.58    5.89    7.94    5.89    8.78    3.87    8.03    8.39

10.43  6.75    5.64    4.03    6.14    9.87    5.49

a.    a. Compute the mean and median.

The mean is _________?(Round to two decimal places as? needed.)

The median is ________?(Do not? round.)

b. Compute the? variance, standard? deviation, range, coefficient of? variation, and Z scores. Are there any? outliers? Explain.

The variance is _______?(Round to three decimal places as? needed.)

The standard deviation is _________(Round to three decimal places as? needed.)

The range is ?(Do not? round.)

The coefficient of variation is _____?%.(Round to two decimal places as? needed.)

Compute the Z scores.

(Round to two decimal places as? needed.)

Data? (X)                     Z Score

9.58                            _____

5.89                            _____

7.94                            _____

5.89                            ______

8.78                            ______

3.87                            _____

8.03                            ______

8.39                            ______

10.43                          ______

6.75                            ______

5.64                            _______

4.03                            _______

6.14                            _______

9.87                            _______

5.49                            ______

Are there any? outliers? Explain.

A. Yes?, since there is at least one Z score that is less than minus3.0 or greater than plus3.0.

B. Yes?, since there are no Z scores that are less than minus3.0 or greater than plus3.0.

C. No?, since there are no Z scores that are less than minus3.0 or greater than plus3.0.

D. No?, since there is at least one Z score that is less than minus3.0 or greater than plus3.0.

c. Are the data? skewed? If? so, how? Choose the correct response below.

A. Yes comma the data are left dash skewed because the mean is less than the median.

B. No comma the data are not skewed because the mean and median are equal.

C. Yes comma the data are right dash skewed because the mean is greater than the median.

d. As a customer walks into the branch office during the lunch? hour, he asks the branch manager how long he can expect to wait. The branch manager? replies, "Almost certainly less than 5? minutes." On the basis of the results of? (a) through? (c), evaluate the accuracy of this statement.

Choose the correct response below.

A. Since the range of values is greater than 5? minutes, the customer is likely to experience a waiting time in excess of 5 minutes.

B. Since the mean and median are both greater than 5? minutes, the customer is likely to experience a waiting time in excess of 5 minutes.

C. Although both the mean and median are greater than 5? minutes, all values greater than 5 minutes have a Z score greater than plus?3.0, thus they are outliers. This means the branch? manager's statement is accurate.

Reference no: EM132372727

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