User Account

All Pages

Confidence interval for the mean waiting time

Assignment Help Business Economics
Reference no: EM132286247

A bank wants to cut wait times at the counter so for 8 weeks, they tracked  wait time in minutes for the 1stperson in line after 3 PM.

With a sample mean waiting time of 3.8 minutes with estimated population standard deviation of 1.1 minutes.

Calculate and interpret the 99% confidence interval for the mean waiting time.

Reference no: EM132286247

Questions Cloud

Percentage of cell-phone batteries : What percentage of cell-phone batteries will last for less than 400 charges? Assume a normal distribution.
Could the reform have begun a century prior : In what ways was Martin Luther a conservative thinker compared to others such as Calvin or the Anabaptists? Could the reform have begun a century prior
Percent of amphipoda are expected to weigh : What percent of amphipoda are expected to weigh between 500 and 700 micrograms? I know the answer in 98.76, just not sure how to get there?
Confidence interval for the population proportion of men : A study of men over the age 40. With a random sample of 150 says 54 of them suffer allergies. Calculate and interpret the 95% confidence
Confidence interval for the mean waiting time : Calculate and interpret the 99% confidence interval for the mean waiting time.
Calculate the expected value for the profit : Calculate the expected value for the profit associated with the two expansion alternative. what is the decision to be made to generate profit.
Discuss the common claims about global warming : Human-induced climate change remains a controversial topic with a lot of misinformation on both sides of the political spectrum.
How nontraditional works can be seen as works of art : Traditionally, when one thinks of art, he or she thinks of paintings and sculptures that are housed in a museum. Today, almost anything can be seen as art-even.
Describe the renaissance art in general : First briefly explain what primarily distinguishes Renaissance art in general from the prior Medieval period. Then, trace the evolution and development of art.

Reviews

Write a Review

Business Economics Questions & Answers

  Why is it difficult to predict changes in the business cycle

How does the United States trade deficit, gross domestic product, the employment rate, and the inflation rate impact the economy and relate to the business cycle? Why is it difficult to predict changes in the business cycle?

  Expected cost of the labor in the first year

Holloman Hops has a budgeted $300,000 per year to pay for labor over the next 5 years. If the company expects the cost of labor to increase by $10,000 each year, and the interest rate is 10%, what is the expected cost of the labor in the first year?

  Please explain how an unexpected increase in the economy

Please explain how an unexpected increase in the economy would shift the short run aggregate supply curve and push equilibrium price up.

  Possessions and possibly dependents in the years to come

Once you're out there in the working world, how do you think you'll go about obtaining life insurance to start, and as you acquire more property

  Profit-maximizing levels of output for the two goods

A firm sells two goods (X and Y) that are related in consumption. The estimated inverse demand and cost functions are:

  Qaccording to the agreement achieved by the administration

q.according to the agreement achieved by the administration and the congress were there a breach of the debt ceiling

  Customer for breach of contract

Your firm, Brisk8, has been sued for $3 million by a customer for breach of contract.

  Differences between implicit and explicit costs

What are the differences between implicit and explicit costs?

  Elucidate what are the arguments in favor and in opposition

Elucidate what are the arguments in favor and in opposition to an independent central bank.

  Financial investments and accounting investments

What is the difference between financial investments and accounting investments? You also need to provide an example of each for both individuals and corporations.

  Certain industry is competitive and there are many firms

Suppose that a certain industry is competitive and there are many firms all with the same cost function given by: LRTC=q3 - 2 q2 + 2q (MC = 3 q2 – 4 q + 2 ) The industry inverse demand curve is given by: p = 11 - .2 Q Find LR equilibrium q, Q, n, p, ..

  Distinguish between interindustry and intraindustry trade

Distinguish between interindustry and intraindustry trade, providing examples of each. Offer possible explanations for interindustry and intraindustry trade.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd