This method undoubtedly displays the position of the

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This method undoubtedly displays the position of the sample size and using a bigger sample size will allow more accuracy than a smaller one. “As we will get a wider, narrower limit in a larger sample, in calculating the confidence interval” (Viljoen & Van, 2000). In this case study, there will be the utilization of data sets, sample distributions, and confidence intervals for making administrative choices. The report will give an account of the clarification of the 95% confidence interval and discuss if the new billing system is effective. By using the 95% confidence interval, it can be can determined, that 95% confident is µ ≤ 19.5 days. 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 system was effective. State the interpretation of 95% confidence interval and state whether the billing system was effective.
THE TIME PAYMENT CASE 3 CI estimate for the mean Data Population Standard Deviation 4.2 Sample Mean 18.1077 Confidence Level 95% Intermediate Calculations Standard error of the Mean 0.5209 Z Value 1.96 Interval half width 1.021 Confidence Interval Interval lower limit 17.0867 Interval upper limit 19.1287 Interval estimate 17.0867- 19.1287 This is an indicator that the new billing system is effective.

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