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A bank manager has developed a new system to reduce the time customers spend waiting to be served by tellers during peak business hours. The bank manager hopes that the new system will lower the average waiting time to less than six minutes. A one-month trial of the system is conducted and 25 customers have been selected and the waiting times were recorded. The sample resulted in a mean of 5.2 minutes and a standard deviation of 2.4 minutes.
a- At 5% significance level, can the manager conclude that the new system is efficient in reducing the average waiting time? Show all steps needed.
b- What is the required assumption, if any, of the test used in (a)?
c- Another satisfaction suggested to use 10% significance level, what would be the conclusion?
d- The manager got puzzled by the results obtained in (a) and (b). Explain to the manager why the conclusions were different and give him/her some insights and recommendations regarding the efficiency of the new system.
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Recall that a bank manager has developed a new system to reduce the time customers spend...
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please answer this question
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