SOLUTION: A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistic

Question 466448: A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank�s claim. Use the information given below. State the null and alternative hypotheses, the significance level, the critical value, the test statistic, the decision and conclusion.

Local Bank Competitor Bank
Sample size n1 = 45 n2 = 50
Average waiting
time in minutes 2.3 min. 2.6 min.
for each sample
Sample Standard
Deviation of s1 = 1.1 min. s2 = 1.0 min.
each sample

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A local bank claims that the waiting time for its customers to be served is the lowest in the area.
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A competitor bank checks the waiting times at both banks. The sample statistics are listed below.
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Test the local bank�s claim. Use the information given below. State the null and alternative hypotheses, the significance level, the critical value, the test statistic, the decision and conclusion.
---------------------------------
...........Local Bank..Competitor Bank
Sample size n1 = 45 ; n2 = 50
Average waiting time in minutes 2.3 min. 2.6 min. for each sample
Sample Standard Deviation of s1 = 1.1 min. s2 = 1.0 min. for each sample.
-----
I ran a 2-Sample T-test and got the following:
Ho: u1 - u2 >= 0
Ha: u1 - u2 < 0 (claim)
------
test stat: t =-1.3854
p-value = 0.0847
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Conclusion: Since the p-value is greater than 5%,
reject Ho at the 5% level.
The test results support the claim.
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Cheers,
Stan H.
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