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READ SECTIONS 10.2 - 10.5 FROM YK. TABLE 4 IS REQUIRED. PROBLEM 1 [TWO INDEPENDENT SAMPLES) |40 POINTS = 10 +10 +10 +10] ANN IS ASSIGNED TO COMPARE...

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Two Independent Samples

  • Attachment 1
  • Attachment 2
READ SECTIONS 10.2 - 10.5 FROM YK. TABLE 4 IS REQUIRED.PROBLEM 1 [TWO INDEPENDENT SAMPLES) |40 POINTS = 10 +10 +10 +10]ANN IS ASSIGNED TO COMPARE EFFICIENCY FOR TWO MORTGAGE LENDERS (BANK OFAMERICA AND CHASE) TO FIND OUT WHICH IS WORKING HARDER. SHE RECORDED THETIME SPENT BY 10 LOAN OFFICERS OF EACH BANK. ASSUME THAT THE INDIVIDUAL TIMESARE NORMALLY DISTRIBUTED WITH UNKNOWN PARAMETERS. THE SAMPLESUMMARIES ARE SHOWN IN THE TABLE BELOW. AVERAGE TIME FOR BANK OF AMERICAWAS 61.4 MINUTES PER CUSTOMER, WITH THE STANDARD DEVIATION = 5 MINUTES.AVERAGE TIME FOR CHASE WAS 70.2 MINUTES, WITH THE STANDARD DEVIATION = 25MINUTESSAMPLE SUMMARISOURCESIZEMEANSDVARIANCEV=S'/NBOAN1= 10(X-BAR)1 = 61.4SI =5(SI)= 2525/10=2.5CHASENz= 10(X-BAR)? = 70.2Sz =15(Sz) = 225225/10=22.5
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