The owners of a convenience store are concerned about the qu

The owners of a convenience store are concerned about the quality of service their customers receive. In order to study the level of satisfaction, they selected a sample of customers to inquire about their experiences. One aspect of the study concerned the mean checkout time at the store. The owners hoped to find that the mean checkout time for all customers was less than 5 minutes, so 40 customers were randomly selected which resulted in a mean checkout time of 3.5 minutes. Identify the following from this scenario: the population, the sample, the variable, the statistic, the parameter

Solution

the population : All the customers visiting the store

the sample : The selected 40 customers for the survey form the sample

the variable : Mean checkout time

the statistic : t-statistic can be used for this test to be calculated from the sample

the parameter : level of satisfaction of the customers

Hope this helps.