Waiting times (in minutes) of customers at a bank where all customers enter a si

Question

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 6.5 6.7 6.8 7.0 72 7.3 7.7 7.8 7.8 Bank B (individual lines) 4.3 5.3 5.9 6.3 6.8 7.7 7.8 8.6 9.3 9.8 The coefficient of variation for the waiting times at Bank A is (Round to one decimal place as needed.) 1%.

Explanation / Answer

Ans:

As,sample CV or population CV not specified to be calculated,both are given below:

Sample CV:

For Bank A,

CV=100*0.512/7.13=7.2%

For Bank B,

CV=100*1.777/7.18=24.7%

Population CV:

For Bank A,

CV=100*0.486/7.13=6.8%

For Bank B,

CV=100*1.686/7.18=23.5%

Bank A Bank B 1 6.5 4.3 2 6.5 5.3 3 6.7 5.9 4 6.8 6.3 5 7 6.8 6 7.2 7.7 7 7.3 7.8 8 7.7 8.6 9 7.8 9.3 10 7.8 9.8 Mean 7.13 7.18 std. dev.(s) 0.512 1.777 pop. Std dev. 0.486 1.686

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