Use the Information Below to Answer the Following Question(s)

question 23

Multiple Choice

Use the information below to answer the following question(s) .
A bank is opening a new location in a business district.They have to determine how many teller windows to have open during the busy lunchtime hour.The demand during this hour is forecast to be normally distributed with a mean of 23 customers and a standard deviation of 10 customers.The average business revenue generated from each customer is $25 and each customer takes an average of 5 minutes to be served.Tellers are paid an hourly wage of $20.
-What is the value of the critical fractile?

• A)0.4
• B)0.48
• C)0.54
• D)0.65

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Definitions:

Leakage

The escape of resources from one part of an economy to another, often referring to money that is not retained within a local system.

Control Group

In experimental research, the group that does not receive the experimental treatment, serving as a baseline to compare the effects of the treatment.

False Positives

An error in which a test incorrectly indicates the presence of a condition that is not actually there.

Type II Error

A statistical error that occurs when one fails to reject a false null hypothesis, also known as a false negative.