Abank manager wishes to estimate the average waiting time for customers in line for tellers. a random sample of 50 times is measured and the average waiting time is 5.7 minutes. the population standard deviation of waiting time is 2 minutes. which excel function would be used to construct a confidence interval estimate?
a. norm. inv
b. t. inv
c. int
d. confidence. norm

d) CONFIDENCE.NORM

Step-by-step explanation:

Given that a bank manager wishes to estimate the average waiting time for customers in line for tellers.

A random sample of 50 times is measured and the average waiting time is 5.7 minutes.  n =50: mu = 5.7 and sigma = 2

To construct a confidence interval we use excel function as

d) CONFIDENCE.NORM

a) is wrong because this is to get normal x value

b ) is to get left tailed t inverse value

c) INT is to get the integer part of a decimal number

Option d is right

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