Mathematics
QNT561 University Phoenix Payment Time Billing System Case Study Paper

QNT561

University of Phoenix

Question Description

https://newclassroom3.phoenix.edu/Classroom/#/contextid/OSIRIS:51697001/context/co/view/activityDetails/activity/61dcb793-c0a7-4d62-9dbf-7987016f3214/expanded/False

Purpose of Assignment

The purpose of the assignment is to develop students' abilities in using datasets to apply the concepts of sampling distributions and confidence intervals to make management decisions.

Assignment Steps

Resources: Microsoft Excel®, The Payment Time Case Study, The Payment Time Case Data Set

Review the Payment Time Case Study and Data Set.

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?

Format your assignment consistent with APA format.

Click the Assignment Files tab to submit your assignment.

Final Answer

Hello bu...

nancyW (2991)
Duke University

Anonymous
I was on a very tight deadline but thanks to Studypool I was able to deliver my assignment on time.

Anonymous
The tutor was pretty knowledgeable, efficient and polite. Great service!

Anonymous
I did not know how to approach this question, Studypool helped me a lot.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4
Similar Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors