InstructionsTask DescriptionTask: Apply mathematical problem solving skills to a variety of problems at the college level.To accomplish this task, the students will1. Identify what they are given and what they need to find;2. Identify the type of problem they have been given and the tools necessary to solve the problem;3. Correctly apply the tools to the information given to set up the problem;4. Perform mathematically correct calculations to determine a solution;5. Interpret their results in terms of the original problem.The written work for the following problem must be submitted to receive credit. The formulas and numbers that have been used in the formula must be shown to receive credit.A local bank claims that the waiting time for its customers to be served is the lowest in the area. A competitor bank checks the waiting times at both banks. The sample statistics are listed below. Test the local bank’s claim. Use the information given below. State the null and alternative hypotheses, the significance level, the critical value, the test statistic, the decision and conclusion. Sample statistics for a local bank and a competitor’s bank Sample sizeLocal Bankn1=46n1=46 {“version”:”1.1″,”math”:”

n1=46

“}

Competitor Bankn2=50n2=50 {“version”:”1.1″,”math”:”

n2=50

“}

Average waiting time in minutes for each sampleX¯¯¯1=2.3 mins.X¯1=2.3 mins. {“version”:”1.1″,”math”:”

X¯1=2.3 mins.

“}

X¯¯¯1=2.6 mins.X¯1=2.6 mins. {“version”:”1.1″,”math”:”

X¯1=2.6 mins.

“}

Sample Standard Deviation of each Samples1= 1.1 minss1= 1.1 mins {“version”:”1.1″,”math”:”

s1= 1.1 mins

“}

s2=1.0 mins.

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