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Ztest = X- H ttest = X- H Ztest = p-p p(1-p) 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 16 account receivables showed a mean collection of 38 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 collection time has been reduced? Test the hypothesis at the 5% level of significance. Ho HA [3 marks] Critical Value Decision Rule [3 marks] Test Statistic [2 marks] Decision with justification [1 mark] Conclusion: Circle the Correct One [1 mark] A. Yes, there is enough evidence to conclude that the average collection time has been reduced. B. No, there is not enough evidence to conclude the average collection time has been reduced. (b) Estimate the p-value and how you came up with the answer. [2 marks]