SCENARIO 10-13
the Amount of Time Required to Reach a Customer

question 282

Multiple Choice

SCENARIO 10-13
The amount of time required to reach a customer service representative has a huge impact on customer satisfaction.Below is the Excel output from a study to see whether there is evidence of a difference in the mean amounts of time required to reach a customer service representative between two hotels.Assume that the population variances in the amount of time for the two hotels are not equal. $$\begin{array}{l}\text { t-Test: Two-Sample Assuming Unequal Variances }\\\begin{array} { l r r } \hline & \text { Hotel 1 } & \text { Hotel 2 } \\\hline \text { Mean } & 2.214 & 2.0115 \\\text { Variance } & 2.951657 & 3.57855 \\\text { Observations } & 20 & 20 \\\text { Hypothesized Mean Difference } & 0 & \\\text { df } & 38 & \\\text { t Stat } & 0.354386 & \\\text { P } ( T < = t ) \text { one-tail } & 0.362504 & \\\text { t Critical one-tail } & 1.685953 & \\\text { P } ( \text { T } < \text { t) two-tail } & 0.725009 & \\\text { t Critical two-tail } & 2.024394 & \\\hline\end{array}\end{array}$$
-Referring to Scenario 10-13, suppose $\alpha$ = 0.05.Which of the following represents the result of the test on a difference in the variabilities of the amount of time required to reach a customer service representative between the two hotels?

• A)The alternative hypothesis is rejected.
• B)The null hypothesis is rejected.
• C)The null hypothesis is not rejected.
• D)Insufficient information exists on which to decide.

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Definitions:

Reservation Price

The highest price a consumer is willing to pay for a good or service, beyond which they would choose not to make a purchase.

Barbie's Preferences

A hypothetical concept referring to the assumed tastes or choices that the iconic doll character "Barbie" might have, based on her lifestyle and marketed products.

Good 1

A term used in economic models to represent the first of multiple goods considered in analysis, often with unspecified characteristics.

Price Elasticity

The degree to which the demand for an item is affected by fluctuations in its cost.