2The Payment Time CaseThe Payment Time CaseDr. Jesus A. CardenasQNT/ 561 Applied Business Research & StatisticsAriel M. McMillonDate: January 24, 2019
2The Payment Time CaseIntroductionThe McMillon Consulting Firm, LLC has developed an electronic billing system for aTrucking Company in order to reduce the amount of time it takes customers to make payments.Up until this point, the trucking company’s old billing system had averaged 39 days or more toreceive payments.Statistical analysis is used in many ways when it comes to finding out howaccurate a new system’s design and effectiveness to a company is. This information can cause abusiness many dollars and could be its livelihood in the long-run. In this situation, a consultingfirm, has recently developed an electronic billing system for Stockton Trucking Company thatwill send invoices to the customer that will also check and correct errors. This system is believedto reduce the amount of time that it takes for customers to make payments.In Stockton California, a new electronic billing system is being incorporated into thetrucking industry. The trucking company using the new electronic billing system is conductingan analysis to locate the mean of the time it takes for the payment to go through. In doing so asample of 65 invoices out of 7,823 will be examined and results will be analyzed. The 95%
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