Question: Please NOTE THAT i ONLY NEED THE ANSWER TO B BELOW which is find the critical value. Thank you. Before a trucking company switched to
Please NOTE THAT i ONLY NEED THE ANSWER TO B BELOW which is "find the critical value". Thank you.
Before a trucking company switched to its currentcomputer-based billingsystem, the average payment time from customers was approximately 40 days. Suppose before purchasing the present billingsystem, it performed a test by examining a random sample of 29 invoices to see if the system would reduce the average billing time. The sample indicates that the average payment time is 38.7 days. Complete parts a and b.
a.
The company that created the billing system indicates that the system would reduce the average billing time to less than 40 days. Conduct a hypothesis test to determine if the newcomputer-based billing system would reduce the average billing time to less than 40 days. Assume the standard deviation is known to be 6 days. Use a significance level of 0.05.
Choose the correct hypotheses below.
A.
H0: 38.7
HA: >38.7
B.
H0: 38.7
HA: <38.7
C.
H0: 40
HA: >40
D.
H0: 40
HA: <40
Your answer is correct.
Find the test statistic z.
z=
negative 1.17
1.17 (Round to two decimal places asneeded.)
b. Find the critical value.
z=
(Round to three decimal places asneeded.)
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
