Case Study Payment Time Case Study.docx - 2 The Payment...

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2 The Payment Time Case The Payment Time Case Dr. Jesus A. Cardenas QNT/ 561 Applied Business Research & Statistics Ariel M. McMillon Date: January 24, 2019
2 The Payment Time Case Introduction The McMillon Consulting Firm, LLC has developed an electronic billing system for a Trucking 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 to receive payments. Statistical analysis is used in many ways when it comes to finding out how accurate a new system’s design and effectiveness to a company is. This information can cause a business many dollars and could be its livelihood in the long-run. In this situation, a consulting firm, has recently developed an electronic billing system for Stockton Trucking Company that will send invoices to the customer that will also check and correct errors. This system is believed to 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 the trucking industry. The trucking company using the new electronic billing system is conducting an analysis to locate the mean of the time it takes for the payment to go through. In doing so a sample of 65 invoices out of 7,823 will be examined and results will be analyzed. The 95% confidence rate will be defined and applied to the examination. The confidence level of 95% and

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