A Sample of 16 ATM Transactions Shows a Mean Transaction

question 51

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

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Definitions:

Accumulated Value

Refers to a value that increases over time, often resulting from the aggregation of multiple increments in a process or calculation.

Preset Value

A predetermined number or setting that is used to initiate an action or define a condition in a process or system.

Time Delay

A deliberate pause introduced in a process or system, usually used to ensure proper timing or synchronization between components or operations.