Examlex
Two hospital emergency rooms use different procedures for triage of their patients.We want to test the claim that the mean waiting time of patients is the same for both hospitals.The 40 randomly selected subjects from one hospital (hospital A)produce a mean of 18.3 minutes.The 50 randomly selected patients from the other hospital (hospital B)produce a mean of 25.31 minutes.Assume a σa = 2.1 minutes and σb = 2.92 minutes.
-Setup the null and alternative hypothesis to determine if there is a difference in the mean waiting time between the two hospitals.
Reserve Requirement
The minimum amount of reserves a bank must hold against deposits, as mandated by central banking authorities.
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