Standard deviation of usage times

Reference no: EM13995309

A local bank has recently installed an automatic teller machine (ATM). At a regional meeting, an ATM specialist tells the bank manager that usage times will be normally distributed and the variability in the amount of time customers require to use the machine will start out relatively high, then eventually settle down to a standard deviation of 0.8 minutes. The manager, skeptical that the variability could be this great, has a study done in which a random sample of 30 persons is timed while using the machine. Analysis of the data shows a standard deviation of 0.61 minutes. At the 0.05 level, test whether the standard deviation of usage times for this bank's customers might actually be less than the amount predicted at the regional meeting.

Reference no: EM13995309

Questions Cloud

Population percentages of warranty service : Assuming that the store's sales are a representative sample of the stereo systems produced by the three manufacturers, use the 0.025 level of signifi- cance in testing whether the population percentages of warranty service returns could be equal.

Derive the supply schedule from supply function : Derive the supply schedule from the following supply function: QS = 10P Derive the supply schedule from the following supply function: QS' = 20 + 10P

Perfectly competitive and is in long-run equilibrium : If a market is perfectly competitive and is in long-run equilibrium, which of the following conditions does not hold?

What is the theoretically correct way to measure : Bronson Distributors owes a supplier $100,000 on open account. The amount is payable in three months. What is the theoretically correct way to measure the reportable amount for this liability? In practice, how will it likely be reported? Why?

Standard deviation of usage times : Analysis of the data shows a standard deviation of 0.61 minutes. At the 0.05 level, test whether the standard deviation of usage times for this bank's customers might actually be less than the amount predicted at the regional meeting.

Why benefits in the short run : Why Benefits in the Short Run? Suppose a country is about to open its markets for trade. In the short run , you would rather be in an industry with s comparative

What is the bertrand model and cournot-stackelberg model : What are the advantages of the HHI over concentration ratios in measuring the degree of concentration in an industry? What is the Bertrand model? What is its relationship to the Cournot model? What is the Stackelberg model?

Standard deviation of ozone concentration : Taking air samples at random times during a 2-month period, an environmental group finds the standard deviation of ozone concentration measurements in the vicinity of a chemical plant to be 0.03 parts per million (ppm).

Determining the emissions-reduction adjustment : Three different instructional techniques are being considered for training mechanics to perform a difficult emissions-reduction adjustment on fuel-injection engines.

User Account

All Pages