# The Payment Time Case

Review the attached Payment Time Case Study and Data Set.

Develop a 600-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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The Payment Time Case

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### Statistics, payment time case

Developa 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 …

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### The Payment Time Case

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### The Payment Time Case Study, The Payment Time Case Data Set

Reviewthe Payment Time Case Study and Data Set.

Developa 700-word report including the following calculations and using the information to determine whether the new billing …