Q3 (a) A random sample of 40 customer wait times (in minutes) at a local bank branch was taken. The sample mean and standard deviation were 5.5 minutes and 0.7 minutes, respectively.
(i) Calculate a 90% confidence interval for the average wait time for all customers, and interpret this confidence interval.
[7 marks]
(ii) If you want to obtain an estimate with a margin of error of no more than 0.2 minutes, what sample size should be chosen? (Assume a 90% confidence level).
[5 marks]