Test Hypotheses Regarding Two Population Standard Deviations
-A Local Supermarket $\alpha = 0.05$

question 48

Short Answer

Test Hypotheses Regarding Two Population Standard Deviations
-A local supermarket claims that the variance of waiting time for its customers to be served is the lowest in the area. A competitor supermarket checks the waiting time at both supermarkets. The sample statistics are listed below. Test the local bank's hypothesis. Use $\alpha = 0.05$ .


Assume the samples were randomly selected from normal populations.

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Definitions:

Time Value of Money

The idea that having money in the present is more valuable than having the same sum in the future because of its ability to generate earnings.

Salvage Value

The projected remaining worth of an asset when it reaches the end of its operational lifespan.

Annual Rate of Return

The percentage of return on an investment over a one-year period, including interest, dividends, and capital gains.

Net Income

A company's total profit calculated by subtracting total expenses from total revenue.