The coefficient of variation for the waiting times at Bank A and Bank B Homework
ID: 3276171 • Letter: T
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%