Waiting times (in minutes) of customers at a bank where all customers enter a single waiting line and a bank where customers wait in individual lines at three different teller windows are listed below. Find the coefficient of variation for each of the two sets of data, then compare the variation. Bank A (single line): 6.5 nbsp 6.7 nbsp 6.7 nbsp 6.8 nbsp 7.1 nbsp 7.3 nbsp 7.4 nbsp 7.7 nbsp 7.7 nbsp 7.7 Bank B (individual lines): 4.3 nbsp 5.4

Complete Question

1. Waiting times (in minutes) of customers at a bank where all customers enter a single waiting line and a bank where customers wait in individual lines at three different teller windows are listed below. Find the coefficient of variation for each of the two sets of data, then compare the variation.

Bank A (single lines): 6.5, 6.6, 6.7, 6.8, 7.2, 7.3, 7.4, 7.6, 7.6, 7.7

Bank B (individual lines): 4.1, 5.4, 5.8, 6.3, 6.8, 7.8, 7.8, 8.6, 9.3, 9.7

- The coefficient of variation for the waiting times at Bank A is ----- %?

- The coefficient of variation for the waiting times at the Bank B is ----- %?

- Is there a difference in variation between the two data sets?

a

The coefficient of variation for the waiting times at Bank A is 6.3%

b

The coefficient of variation for the waiting times at Bank B is 25.116%

c

The waiting time of Bank B has a considerable higher variation than that of Bank A

Step-by-step explanation:

From the question we are told that

  For Bank A  : 6.5, 6.6, 6.7, 6.8, 7.2, 7.3, 7.4, 7.6, 7.6, 7.7

 For  Bank B : 4.1, 5.4, 5.8, 6.3, 6.8, 7.8, 7.8, 8.6, 9.3, 9.7

The sample size is  n =10

The mean for Bank A is

The standard deviation is mathematically represented as

The coefficient of variation for the waiting times at Bank A is  mathematically represented as  

       6.3%

Considering Bank B

     The mean for Bank B is

The standard deviation is mathematically represented as      

The coefficient of variation for the waiting times at Bank B is  mathematically represented as  

        25.116%

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