A Local Bank Claims That the Waiting Time for Its $\alpha$

question 84

Essay

A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor
bank checks the waiting times at both banks. Use P-values to test the local bankʹs claim. Use $\alpha$ = 0.05. Assume
the two samples are random and independent. $$\begin{array} { cc} \text {Local Bank}&\text {Competitor Bank}\\\mathrm { n } _ { 1 } = 45 & \mathrm { n } _ { 2 } = 50 \\\overline { \mathrm { x } } 1 = 5.3 \text { minutes } & \overline { \mathrm { x } } 2 = 5.6 \text { minutes } \\\sigma _ { 1 } = 1.1 \text { minutes } & \sigma _ { 2 } = 1.0 \text { minutes }\end{array}$$

---

Definitions:

U.S. Dollars

The official currency of the United States, symbolized as $.

U.S. Company

A corporation or business entity that is registered and operates within the United States.

Japanese Yen

Japanese Yen (JPY) is the official currency of Japan, symbolized by ¥ or as JPY in foreign exchange markets.

Merchandise Valued

The total worth of goods held by a company for sale, often assessed at the end of an accounting period.