[SOLVED] The purpose of the assignment is to develop students’ abilities in using data sets to apply the concepts of sampling distributions and confidence intervals to make management decisions.

I need an explanation for this Statistics question to help me study.

Struggling to find relevant content or pressed for time? – Don’t worry, we have a team of professionals to help you on
[SOLVED] The purpose of the assignment is to develop students’ abilities in using data sets to apply the concepts of sampling distributions and confidence intervals to make management decisions.
Get a 15% Discount on this Paper
Order Now

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?

Submit your assignment (Excel template with text boxes or Excel template and Word document).

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
s
Get personalized services with MyCoursebay
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Human Resources Management (HRM)
Thanks for your support.
Customer 452701, May 10th, 2023
Literature
Great
Customer 452813, July 10th, 2023
Human Resources Management (HRM)
Thanks for your assistance and promptness.
Customer 452701, November 1st, 2022
Nursing
Always perfectly done!
Customer 452955, October 28th, 2023
Nursing
Great Work!
Customer 452453, April 26th, 2023
Social Work and Human Services
The paper is impressive. Very professional and per the instructions
Customer 452533, May 24th, 2021
Social Work and Human Services
Good Work!
Customer 452587, September 2nd, 2021
Nursing
Great work. thank you again!
Customer 452707, August 7th, 2022
IT, Web
Great job on the paper.
Customer 452885, February 7th, 2023
Human Resources Management (HRM)
Thanks for the paper. Hopefully this one will receive higher than a C and has followed all guidelines.
Customer 452701, November 16th, 2022
Other
Excellent
Customer 452813, August 21st, 2023
Nursing
Work is always perfectly done.
Customer 452707, January 11th, 2024

[SOLVED] The purpose of the assignment is to develop students’ abilities in using data sets to apply the concepts of sampling distributions and confidence intervals to make management decisions.

I need an explanation for this Statistics question to help me study.

Struggling to find relevant content or pressed for time? – Don’t worry, we have a team of professionals to help you on
[SOLVED] The purpose of the assignment is to develop students’ abilities in using data sets to apply the concepts of sampling distributions and confidence intervals to make management decisions.
Get a 15% Discount on this Paper
Order Now

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?

Submit your assignment (Excel template with text boxes or Excel template and Word document).

Calculate the price
Make an order in advance and get the best price
Pages (550 words)
$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
Sign up, place your order, and leave the rest to our professional paper writers in less than 2 minutes.
step 1
Upload assignment instructions
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
s
Get personalized services with MyCoursebay
One writer for all your papers
You can select one writer for all your papers. This option enhances the consistency in the quality of your assignments. Select your preferred writer from the list of writers who have handledf your previous assignments
Same paper from different writers
Are you ordering the same assignment for a friend? You can get the same paper from different writers. The goal is to produce 100% unique and original papers
Copy of sources used
Our homework writers will provide you with copies of sources used on your request. Just add the option when plaing your order
What our partners say about us
We appreciate every review and are always looking for ways to grow. See what other students think about our do my paper service.
Criminal law
Thank You!
Customer 452465, January 29th, 2021
Nursing
Got my assignment early and well written. Thank you.
Customer 452707, January 18th, 2025
Social Work and Human Services
Excellent Work!
Customer 452587, September 16th, 2021
Human Resources Management (HRM)
Thanks for the prompt delvery.
Customer 452701, January 20th, 2023
Nursing
Great writer (Proske). I highly recommend
Customer 452531, July 10th, 2021
IT, Web
Excellent job on the paper.
Customer 452885, January 25th, 2023
Other
AWESOME
Customer 452813, June 21st, 2022
Nursing
Perfectly done! Thanks again.
Customer 452707, July 18th, 2022
Social Work and Human Services
Excellent Work
Customer 452587, November 22nd, 2021
Social Work and Human Services
Excellent Work!
Customer 452587, August 24th, 2021
Technology
I can work with it and massage it to what I need. Thank You
Customer 452827, July 19th, 2022
IT, Web
Excellent work!!!
Customer 452885, February 7th, 2023
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Good News ! We now help with PROCTORED EXAM. Chat with a support agent for more information