Brian Vanecek, VP of Operations at Portland Trust Bank, Is

question 15

Multiple Choice

Brian Vanecek, VP of Operations at Portland Trust Bank, is evaluating the service level provided to walk-in customers.Brian would like to minimize the variance of waiting time for these customers, since this would mean each customer received the same level of service.Accordingly, his staff recorded the waiting times for 15 randomly selected walk-in customers, and determined that their mean waiting time was 15 minutes and that the standard deviation was 4 minutes.Assume that waiting time is normally distributed.The 95% confidence interval for the population variance of waiting times is ___.

• A)9.46 to 34.09
• B)56.25 to 64.87
• C)11.05 to 16.03
• D)8.58 to 39.80
• E)12.50 to 42.35

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Definitions:

Bankruptcy

A legal process for individuals or entities that are unable to repay their outstanding debts, providing a mechanism for dealing with financial insolvency.

Fraudulent Transfer

A debtor’s transfer of property in an attempt to keep it out of the hands of creditors; not a valid sale at a fair price to an innocent third party.

Bona Fide Purchaser

A person who acquires property in good faith and without awareness of any defects or problems with the title.

Reorganization Proposal

A plan aimed at restructuring a business's operations, debts, and other elements to facilitate its recovery, often used in bankruptcy proceedings to ensure the entity can continue its operations.