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Run the simulation model for Hammondsport Savings Bank's single ATM machine with the following assumptions: 1. Interarrival time between two customers is a uniform probability distribution between 0 to 4 minutes and 2. Customer service time is a normal distribution with the mean = 4 minutes, standard deviation of 0.45 minutes. Write a formal report with a table of contents, introduction of the problem with, method used with assumptions, detail calculation (grab the resultant excel table and include it in your MS Word document,) use the last 150 rows to calculate the average waiting time. Your conclusions should include (1) whether the requirement that the average waiting time should be not be greater than 1 minute is met. (2) If it is met, show under what situations the requirement will not be met; or (3) if it is not met, suggest what can be done to improve. Quantify case (2) or case (3) (in other words, you need to show two excel tables in your MS Word report.)
Please explain the difference between confidence interval and significance level and how they interact or "influence" each other.
Solve manually and then by mega stat. Indicate your decision rule, your hypotheses and your statistical and management conclusions."
Describe to a person who has never taken a course in statistics the meaning of a grouped frequency table.
Let = the sample mean of the 100 scores from University X, and = the sample mean of the 100 scores from University Y. What is the probability that will x be greater than y?
The standard deviation of test scores on a certain achievement test is 10.5. A random sample of 150 scores on this test had a mean of 72.8.
A research firm conducted a survey to determine the mean amount people spend at a popular coffee shop during a week. They found the amounts spent per week followed a normal distribution with a population standard deviation of $4.
What is the probability that at least one of the new books is a commercial success?
A psychologist wants to determine if there is a linear relationship between the number of hours a person goes without sleep and the number of mistakes he/she makes on a simple test. The following data is recorded. Determine the regression line equ..
College Students' Seating Choices and Motivation to Achieve.This activity is a revision of an activity found in Real Data: A Statistics Workbook Based on Empirical Data by Z. C Holcomb (1997). Published by Pyrczak Publishing.
The stakeholders in the simulation have different opinions as to the proper course of action the organization should take. Explain the decisions you made in the third cycle of the simulation.
Pearson correlation of r = +0.85 indicates that a graph of the data would show ___. Clustered close to a line that slopes up to the right points clustered close to a line that slopes down.
A retailer wants to estimate with 99% confidence the number of people who buy at his store. A previous study showed that 15% of those interviewed had shopped at his store.
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