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Author Question: A bank manager wishes to estimate the average waiting time for customers in line for tellers. A ... (Read 95 times)

silviawilliams41

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on: Jun 24, 2018
A bank manager wishes to estimate the average waiting time for customers in line for tellers. A random sample of 50 times is measured and the average waiting time is 5.7 minutes. The population standard deviation of waiting time is 2 minutes. Which Excel function would be used to construct a confidence interval estimate?
 a. CONFIDENCE.NORM
  b. NORM.INV
  c. T.INV
  d. INT

Question 2

The life expectancy of a particular brand of tire is normally distributed with a mean of 40,000 and a standard deviation of 5,000 miles. What is the probability that a randomly selected tire will have a life of at least 47,500 miles?
 a. .4332
  b. .9332
  c. .0668
  d. None of the answers is correct.


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owenfalvey

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Reply #1 on: Jun 24, 2018
Answer to Question 1

a

Answer to Question 2

c


silviawilliams41

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Reply 2 on: Jun 24, 2018
Thanks for the timely response, appreciate it

emsimon14

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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