2Payment Time Case StudyThis week’s assignment calls for a review of whether the new electronic billing system for the trucking company in Stockton, CA is the best alternative for billing. When using the prior billing system it takes 39 or more days on the average for customers to pay. The review will show if the system was successful or not in reducing the mean bill payment time of its customers. The new billing system is anticipated to lessen the amount of time of customers’ payments by 50%. The objective will be achieved if the new billing system reduces half of the time expected. We will discuss this theory using the given calculations. 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 systemwas effective. State the interpretation of 95% confidence interval and state whether or notthe billing system was effective.