A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank’s claim. Use the information given below. Use α = 0.05. State the null and alternative hypotheses, the significance level, the critical value, the test statistic, the decision and conclusion.
Local Bank Competitor Bank
Sample size n1 = 45 n2 = 50
Average Waiting 2.3 min. 2.6 min.time in minutesfor each sample
Sample standard s1 = 1.1 min. s 2 = 1.0 min.Deviation of eachSampleuse alpha=0.05