Brian Vanecek, VP of Operations at Portland Trust Bank, Is

question 21

Multiple Choice

Brian Vanecek, VP of Operations at Portland Trust Bank, is evaluating the service level provided to walk-in customers.Brian would like to minimize the variance of waiting time for these customers, since this would mean each customer received the same level of service.Accordingly, his staff recorded the waiting times for 15 randomly selected walk-in customers, and determined that their mean waiting time was 15 minutes and that the standard deviation was 4 minutes.Assume that waiting time is normally distributed.The 90% confidence interval for the population variance of waiting times is ________.

• A)9.46 to 34.09
• B)56.25 to 64.87
• C)11.05 to 16.03
• D)8.58 to 39.79
• E)12.50 to 42.35

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Definitions:

Selling Division

A specialized department within a company responsible for overseeing and implementing sales strategies.

Transfer Price

The price at which goods, services, or intellectual property are traded between divisions within the same company.

Buying Division

is a department within an organization responsible for purchasing goods and services the organization needs.

Selling Division

The division or part of an organization responsible for selling the company's products or services to customers.