A Local Supermarket Claims That the Waiting Time for Its $\alpha = 0.05$

question 40

Essay

A local supermarket claims that the waiting time for its customers to be served is the lowest in the area. A competitor's supermarket checks the waiting times at both supermarkets. The sample statistics are listed below. Test the local supermarket's hypothesis. Use $\alpha = 0.05$ .
Local Supermarket Competitor Supermarket
$$\begin{array} { l l } \mathrm { n } _ { 1 } = 15 & \mathrm { n } _ { 2 } = 16 \\\overline { \mathrm { x } } 1 = 5.3 \text { minutes } & \overline { \mathrm { x } } 2 = 5.6 \text { minutes } \\\mathrm { s } _ { 1 } = 1.1 \text { minutes } & \mathrm { s } _ { 2 } = 1.0 \text { minutes }\end{array}$$

Recognize the role and usage of different banking instruments (e.g., debit cards, zero-balance accounts) in cash management.

Understand the impact of technological and market developments on reducing collection float.

Understand the impact of the Internet on the growth of online retailing and banking and its implications for float management.

Identify and explain the components of collection time.

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Definitions:

Normally Distributed

Characterizes a probability distribution where the arrangement is mirror-imaged around the mean, suggesting that occurrences are more common near the mean than far from it.

Population Variances

A measure of the spread of a population's data points, representing the average of the squared differences from the population mean.

Null Hypothesis

A statement in statistics that suggests no significant difference or effect; it serves as a default assumption to be tested against an alternative hypothesis.

One-way ANOVA

A statistical test that analyzes the differences among three or more group means by comparing within-group variance to between-group variance.