Bank Waiting Times

Customers often have to wait during the acquiring and consuming many products and services. Many banks participated in an experiment testing customers’ satisfaction with waiting in the line. The experiment produced the following data (as an example):

Table 1. Waiting times of bank customers at different banks [in minutes]

BLOM Bank | 6.5 6.6 5 7.1 7.3 8 6.3 7 7.5 6 |

HSBC Bank | 4.3 5 7.5 4 4.1 8 8.2 6.5 5.2 10 |

Write a program to analyze the waiting time situation for any number banks based on the input results (see Table 1 as an example). Also, you would need to include the following requirements:

The program has to implement the input options to read the data from the keyboard (later in assignment 2, you will need to read the data from a file bank.txt)

The user should be prompted to enter as many banks and waiting time as he desires in the following format: BANK_NAME | t1 t2 t3 … |

The program has to calculate for each bank the mean and the standard deviation of the waiting times.

The program has to print on the screen the results for each bank.

Studies have shown that customers waiting in a queue prefer waiting times with less variation, i.e. with lower standard deviation. The program should write a conclusion showing which bank has more satisfied customers.

Some customers are interested in the overall minimum and maximum time of all the banks under study. The program should also find the minimum time and maximum waiting time indicating which banks were chosen.

Once the optimal bank has been chosen, the user would be given the option to invest money in that specific Bank and would be prompted for the APR and the number of years he would like to invest his money and then your program should give him his total amount (including compound interests) after the required number of years.

Formulas:

For a set of n values, x1, x2, ... xn , the average or mean and standard deviation, s, are given by

P is the principal (the money you start with, your first deposit)

R is the annual rate of interest as a decimal (5% means r = 0.05)

N is the number of years you leave it on deposit

A is how much money you've accumulated after n years, including interest.