A bank manager wants to determine the average time a customer waits in a queue...
90.2K
Verified Solution
Link Copied!
Question
Finance
A bank manager wants to determine the average time a customer waits in a queue before being served in her bank. She wants to be 95% sure that her estimate does not differ from the true time by more than a quarter of a minute (B = 0.25 minutes). Previous research has shown that the standard deviation is 3.5 minutes per customer. What is the required sample size?
Answer & Explanation
Solved by verified expert
Get Answers to Unlimited Questions
Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!
Membership Benefits:
Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
