Quiz 15 v2.docx - OPMT 1130 Quiz 15 Mark/12 Last...

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OPMT 1130 Quiz 15 Mark: /12 Last Name: ____________________First Name:______________________Set:_______ Z test = x μ σ n t test = x μ s n Z test = p p p ( 1 p ) n A company has historically averaged 46 days on the collection of its account receivables. To improve cash flow, the AR manager was presented with an incentive bonus if she could reduce the average collection time. A random sample of 25 account receivables showed a mean collection of 40 days and a standard deviation of 10 days. Assume the collection times are approximately normally distributed. Is there enough evidence to conclude that the average

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