The following data represents the time it takes a company

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The following data represents the time it takes a company to respond to an account inquiry for opening a new account.

A. Using the exponential distribution estimate the average waiting time using the sample mean.

1

1

18

0

22

1

36

0

1

1

B. preform a hypothesis test to determine if the wait time is different from 2 days with type 1 error or 0.05, what is the conclusion?

Reference no: EM13623732

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