The branch manager of an international bank in Kuala Lumpur, Malaysia, has received a memorandum from senior executives at the head office of the bank instructing the manager to ensure that the average queuing time for customers waiting to see a cashier is no more than 5 minutes. Since receiving this directive, the manager has been informally checking queuing times and is very confident that the average time customers spend waiting to see a cashier is currently 5 minutes or less. You have now been brought in to undertake an audit of queuing times to check that they are in accordance with the senior executives’ directive. State the null and alternative hypotheses you will be using in this instance.

The branch manager of an international bank in Kuala Lumpur, Malaysia, has received a memorandum from senior executives at the head office of the bank instructing the manager to ensure that the average queuing time for customers waiting to see a cashier is no more than 5 minutes. Since receiving this directive, the manager has been informally checking queuing times and is very confident that the average time customers spend waiting to see a cashier is currently 5 minutes or less. You have now been brought in to undertake an audit of queuing times to check that they are in accordance with the senior executives’ directive. State the null and alternative hypotheses you will be using in this instance.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter17: Making Decisions With Uncertainty

Section: Chapter Questions

Problem 6MC

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