A Sample of 16 ATM Transactions Shows a Mean Transaction

question 128

Multiple Choice

A sample of 16 ATM transactions shows a mean transaction time of 67 seconds with a standard deviation of 12 seconds. State the hypotheses to test whether the mean transaction time exceeds 60 seconds.

• A)H₀: μ ≤ 60, H₁: μ > 60
• B)H₀: μ ≥ 60, H₁: μ < 60
• C)H₀: μ = 60, H₁: μ ≠ 60
• D)H₀: μ < 60, H₁: μ ≥ 60

---

Definitions:

Cells

The basic structural, functional, and biological units of all known living organisms, serving as the building blocks of life.

Two-way Factor ANOVA

A statistical method used to determine the effect of two nominal predictor variables on a continuous outcome variable.

Replications

Multiple instances or repeats of experiments or studies to verify findings or to increase precision.

Degrees of Freedom

The number of independent pieces of information upon which a statistical estimate is based minus the number of parameters being estimated.