Home » Downloads » Determine whether the new billing system has reduced the mean bill payment time

Determine whether the new billing system has reduced the mean bill payment time

Determine whether the new billing system has reduced the mean bill payment time

The Payment Time Case

Develop a 700-word report including the following calculations and using the information to determine whether the new billing system has reduced the mean bill payment time:

Assuming the standard deviation of the payment times for all payments is 4.2 days, construct a 95% confidence interval estimate to determine whether the new billing system was effective. State the interpretation of 95% confidence interval and state whether or not the billing system was effective.

Using the 95% confidence interval, can we be 95% confident that µ ≤ 19.5 days?

Using the 99% confidence interval, can we be 99% confident that µ ≤ 19.5 days?

If the population mean payment time is 19.5 days, what is the probability of observing a sample mean payment time of 65 invoices less than or equal to 18.1077 days?

qnt561_r9_payment_time_case_dataset qnt561_r9_payment_time_case_week_4

Answer preview to determine whether the new billing system has reduced the mean bill payment time

Determine whether the new billing system has reduced the mean bill payment time

APA

770 words

Get instant access to the full solution from yourhomeworksolutions by clicking the purchase button below