subject
Mathematics, 06.09.2021 16:00 jayzie1728

SpeedX, a large courier company, sends invoices to customers requesting payment within 30 days. The bill lists an address, and customers are expected to use their own envelopes to return their payments. Currently, the mean and standard deviation of the amount of time taken to pay bills are 24 days and 6 days, respectively. The chief financial officer (CFO) believes including a stamped self-addressed envelope would decrease the amount of time. She calculates the improved cash flow from a 2-day decrease in the payment period would pay for the costs of the envelopes and stamps. You have an MBA from the University of Phoenix, and work for SpeedX as a business analyst. One of your job duties is to run analytics and present the results to the senior management for critical decision-making. You see this as an opportunity to utilize some of the skills you gained in the Statistics course. Because of your strong understanding and background in inferential statistics, you decide to take up this important assignment. You have learned any analysis in inferential statistics starts with sampling. To test the CFO’s belief, you decide to randomly select 220 customers and propose to include a stamped self-addressed envelope with their invoices. The CFO accepts your proposal and allows you to run a pilot study. You then record the numbers of days until payment is received. Using your statistical expertise and skills you gained in the class, conduct a one-sample hypothesis test and determine if you can convince the CFO to conclude that the plan will be profitable. Use 0.10 and the significance level (α).

ansver
Answers: 1

Another question on Mathematics

question
Mathematics, 21.06.2019 22:00
3women sell hats at a craft fair weekly. the money they make at the fair is split into categories. 9% goes to pay taxes. $55 goes to pay rent for the space they sell in. the rest is split between the women. if the group make $706 at the fair, how much does each women get paid once the money is divided
Answers: 1
question
Mathematics, 21.06.2019 22:30
According to the 2008 u.s. census, california had a population of approximately 4 Ă— 10^7 people and florida had a population of approximately 2 Ă— 10^7 people. which of the following is true? a. the population of california was approximately two times the population of florida. b. the population of florida was approximately twenty times the population of california. c. the population of florida was approximately two times the population of california. d. the population of california was approximately twenty times the population of florida.
Answers: 1
question
Mathematics, 21.06.2019 23:40
In the diagram, a building cast a 35-ft shadow and a flagpole casts an 8-ft shadow. if the the flagpole is 18 ft tall, how tall is the building? round the the nearest tenth.
Answers: 2
question
Mathematics, 22.06.2019 01:00
Which is an accurate comparison of the two data sets? the commute to work is typically shorter and more consistent than the commute home. the commute to work is typically shorter but less consistent than the commute home. the commute to work is typically longer and less consistent than the commute home. the commute to work is typically longer but more consistent than the commute home.
Answers: 2
You know the right answer?
SpeedX, a large courier company, sends invoices to customers requesting payment within 30 days. The...
Questions
question
Mathematics, 10.06.2021 14:00
question
Mathematics, 10.06.2021 14:00
question
Mathematics, 10.06.2021 14:00
Questions on the website: 13722361