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Q1) First American bank is trying to find out whether it must install one or two drive-through teller windows. Following probability distributions for arrivals interval and service times have been developed from historical data:
Time Between Automobile Arrival (min)
Probability
1
0.2
2
0.6
3
0.1
4
Service Time (min)
0.4
5
6
Suppose that in two-server systems, the arriving car will join shorter queue. When queues are of equal length, there is a 5-50 chance driver will enter queue for either window.
a) Simulate both one-and two-teller systems, calculate waiting time, average queue length, and percentage utilization for each system.
b) Describe your results in (a) and propose the degree to which they could be utilized to make a decision about which system to empty.
A sample of 50 provided a sample mean of 14.15. The population standard deviation is 3.
The main purpose of this exercise is to check your understanding of significance level, p-values and power .
Make up a scatter diagram with 10 dots for each of the following situations:
Use frequency distribution to create a probability distribution, determine the (b) mean,(c) variance.
How many subjects would you approximately need to reduce the length of the 95% confidence interval to 2 units?
For value 10,40,20,50 and 40, value of arithmetic mean is? Simplest measure of dispersion is the Standard deviation, variance, Quartile deviation.
Is there a significant difference the four testing conditions?
Then use ogive to estimate median and first and third quartiles. Also utilize it to reply following question: What percent of 60 mutual fund loads are less than 75.
We want to estimate the population mean within 5, with a 99% confidence level. The population std dev is estimated to be 15. How large is the required sample size?
A bank wants to get new customers for their credit card. They try two different approaches in their marketing campaign. The first promises a "cash back" reward; the second promises low interest rates. A sample of 500 people are mailed the first br..
Cores on two tests have a bivariate normal distribution; and that correlation of 2 scores is 0.8. Determine the probability that sum of the student's scores on 2 tests will be greater than 200?
Compute a 95% confidence interval for the mean using the formula and where is the mean of the ten random numbers.
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