Question

A local bank has determined that on average a teller can process 5 transactions per 15 minutes. What is the new mean of processed transactions if the time is changed to a 25 minute interval?

Answer 1

Answer:

The new mean of processed transactions is 8

Step-by-step explanation:

The teller averages 5 transactions every 15 minutes.

Taking this to a single transaction basis gives; The teller averages one transaction every 3 minutes.

So, when the time changes to 25 minutes, there is the need to find the number of 3-minutes obtainable from a 25-minute interval

New mean of processed transaction = $\frac{25 minutes}{3 minutes}$ = 8.333

The new mean of transaction every 25 minutes is about 8 transactions

Answer 2

Answer: 8.33/ 8 transactions on the average

Step-by-step explanation:

Since the teller is capable of processing five (5) different transactions on the average every fifteen minutes (15).

This means that he is capable of processing a transaction in three minutes:

15minutes/3transactions

= 3 minutes per transaction.

Judging by this speed ( 3 minutes per transaction); we can deduce the number of transactions the teller is capable of processing on the average in 25 minutes.

Since 3 minutes --------- 1 transaction, in 25 minutes the teller will process :

(25/3) × (1/1)

= 8.333 transactions

approximately 8 transactions.