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|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?
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|Writing Guidelines||Met||Partially Met||Not Met||Comments:|
|The paper—including tables and graphs, headings, title page, and reference page—is consistent with APA formatting guidelines and meets course-level requirements.|
|Intellectual property is recognized with in-text citations and a reference page.|
|Paragraph and sentence transitions are present, logical, and maintain the flow throughout the paper.|
|Sentences are complete, clear, and concise.|
|Rules of grammar and usage are followed including spelling and punctuation.|