Develop a 700-word report including the following calculations and using the information to determine whether the new billing system has reduced the mean bill payment time:
- 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 or not the billing system was effective.
- Using the 95% confidence interval, can we be 95% confident that µ ≤ 19.5 days?
- Using the 99% confidence interval, can we be 99% confident that µ ≤ 19.5 days?
- If the population mean payment time is 19.5 days, what is the probability of observing a sample mean payment time of 65 invoices less than or equal to 18.1077 days?
buy if they liked the person selling it to them. Some of the many biases favoring more attractive people are discussed, but generally more aesthetically pleasing people tend to use this influence excellently over others. Scarcity – Perceived scarcity will generate demand. For example, saying offers are available for a “limited time only” encourages sales. Propaganda is also closely related to Persuasion. It’s a concerted set of messages aimed at influencing the opinions or behavior of large numbers of people. Instead of impartially providing information, propaganda in its most basic sense presents information in order to influence its audience. The most effective propaganda is often completely truthful, but some propaganda presents facts selectively to encourage a particular synthesis, or gives loaded messages in order to produce an emotional rather than rational response to the information presented. The desired result is a change of the cognitive narrative of the subject in the target audience. The term ‘propaganda’ first appeared in 1622 when Pope Gregory XV established the Sacred Congregation for Propagating the Faith. Propaganda was then as now about convincing large numbers of people about the veracity of a given set of ideas. Propaganda is as old as people, politics and religion. Sources of power can provide organizational members with a variety of means for enhancing their interests and smoothing over or creating organization conflict.. For example, some people derive power because they have been given authority by the organization to tell others what to do.Other people might have particular expertise or knowledge which the organization is dependent on, which gives them power.Some individuals might not have formal authority or expertise but might be very popular and thus have power through their own personal. The following are some of the sources Formal authority: This is when one is the legitimate owner of an organization, is the chief executive officer, or the general manager, one can use this authority to make crucial decisions in an organization whether good or bad. Use of organizational structure, rules and regulations can change the scope of working in an organization. Ability to cope with uncertainty: this feeling makes one have an advantage over the rest of the members of an organization since one feels that the organization will depend on your idea once anything happens. Interpersonal alliances, networks, and control of “informal organization” : if one is capable of uniting the entire workforce, the seniors will hold you as a valuable asset which can be used in case of a conflict. The same is also true when maybe a manager possesses these traits over his/her subordinates .i.e. he/she can use them to convince the subordinates in case of a misunderstanding.>GET ANSWER