Albert Abbasi,VP of Operations at Ingleside International Bank,is Evaluating the Service

question 53

Multiple Choice

Albert Abbasi,VP of Operations at Ingleside International Bank,is evaluating the service level provided to walk-in customers. Accordingly,he plans a sample of waiting times for walk-in customers. If the population of waiting times has a mean of 15 minutes and a standard deviation of 4 minutes,the probability that Albert's sample of 64 will have a mean less than 14 minutes is ________.

• A) 0.4772
• B) 0.0228
• C) 0.9772
• D) 0.9544
• E) 1.0000

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Definitions:

Mean

The arithmetic average of a set of values, calculated by summing up all the values and then dividing by the number of values.

F Distribution

A probability distribution that arises in the analysis of variances for comparing sample variances or testing the hypothesis of equal variances, used primarily in ANOVA.

Degrees of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution or equation, typically affecting the shape of the distribution.

Mean and Variance

Statistical measures where mean is the average of a set of numbers, and variance quantifies the spread of the numbers in the set.