Solve the Problem $\mathrm { n } _ { 1 } = 13 , \mathrm {~s} _ { 1 } = 2.1$

question 39

Multiple Choice

Solve the problem.
-A manager at a bank is interested in the standard deviation of the waiting times when a single waiting line is used and when individual lines are used. He wishes to test the claim that the population standard deviation for waiting times when multiple lines are used is greater than the population standard deviation for waiting times when a single line is used. Find the P-value for a test of this claim given the following sample data. You won't be able to find the exact P-value, but will be able to give a range of possible values. Sample 1: multiple waiting lines: $\mathrm { n } _ { 1 } = 13 , \mathrm {~s} _ { 1 } = 2.1$ minutes
Sample 2: single waiting line: $\mathrm { n } _ { 2 } = 16 , \mathrm {~s} _ { 2 } = 1.1$ minutes

• A) \(0.02 <\) P-value \(< 0.05\)
• B) \(0.025 < \mathrm { P }\)-value \(< 0.05\)
• C) \(0.01 < \mathrm { P }\)-value \(< 0.025\)
• D) \(0.005 < \mathrm { P }\)-value \(< 0.01\)

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Definitions:

Variable Expenses

Costs that change in proportion to the activity of a business, such as raw material costs, sales commissions, or delivery charges.

Fixed Expenses

Expenses that remain constant regardless of variations in the level of production or the volume of sales, like lease payments or wages.

Degree Of Operating Leverage

A financial ratio that measures the sensitivity of a company's operating income to its sales volume, indicating the impact of fixed costs on earnings.

Variable Expenses

Expenses that vary directly with the amount of activity or production volume.