The coefficient of variation for the waiting times at Bank A and Bank B Homework

Question

The coefficient of variation for the waiting times at Bank A and Bank B Homework: HW2 Save Score: 0 of 1 pt 110126 (20 complete) Hw Score: 70.51%, 18.33 of 26 pts 3.3.24 Question Help * 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 6.7 6.7 6.9 7.1 7.3 7.5 7.6 7.7 7.8 Bank B (individual lines): 4.1 54 58 62 6.6 7.6 7.7 8.5 9.3 9.8 The coefficient of variation for the waiting times at Bank AisU (Round to one decimal place as needed.)

Explanation / Answer

Answer:

Descriptive statistics

Bank A

Bank B

count

10

10

mean

7.180

7.100

sample standard deviation

0.466

1.806

sample variance

0.217

3.260

minimum

6.5

4.1

maximum

7.8

9.8

range

1.3

5.7

skewness

-0.097

-0.037

kurtosis

-1.618

-0.776

coefficient of variation (CV)

6.49%

25.43%

coefficient of variation = (sd/mean)*100

coefficient of variation for the waiting times at Bank A= 6.5 %

coefficient of variation for the waiting times at Bank B = 25.4 %

Descriptive statistics

Bank A

Bank B

count

10

10

mean

7.180

7.100

sample standard deviation

0.466

1.806

sample variance

0.217

3.260

minimum

6.5

4.1

maximum

7.8

9.8

range

1.3

5.7

skewness

-0.097

-0.037

kurtosis

-1.618

-0.776

coefficient of variation (CV)

6.49%

25.43%

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