Test Hypotheses About a Population Mean with Known Using P-Values $3.9$

question 99

Short Answer

Test Hypotheses about a Population Mean with Known Using P-values
-A bank claims that the mean waiting time in line is less than $3.9$ minutes. A random sample of 60 customers has a mean of $3.8$ minutes with a standard deviation of $0.6$ minute. If $\alpha = 0.05$ , test the bank's claim using $\mathrm { P }$ -values.

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Definitions:

Duty of Accounting

An agent’s obligation to keep an accurate account of the transactions of money and property made on behalf of the principal.

Agent

A representative authorized to act on behalf of another person or organization, especially in business or legal matters.

Principal

The original amount of money invested or loaned, upon which interest is calculated, or the main party involved in a transaction.

Ratification

The official way to confirm something, usually by vote, making it valid or officially approved.