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1Payment Time CaseEdward MirandaQNT/561April 24th, 2017Mr. Chosen Cheng
2Payment Time CaseIntroThis paper will discuss the results obtained from the University of Phoenix case study: Payment Time Case Study. The case study details a consulting firm’s job of analyzing weather a Stockton, California trucking firm’s new software has lowered there payment times by 50%. The mean current payment time is estimated to be at or below 19.5 days. The task was to compute a confidence interval using the standard deviation of 4.2 days and result at 95 and 99%. Manually entering data into Excel I obtained results for 95 and 99%, and using a mean of 19.5 days will give results for a margin for 18.1077 days.DataThe following data was manually input into ExcelThe following data was obtained by input into Megastat.
3Note the difference in the overall values. This is due to the actual standard deviation of 3.96 versus the given value from the case study of 4.2 which was used in my calculations.