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Case Study 3: Credit Data, Inc. Credit Data, Inc., has beenmonitoring the amount of time its bill collectors spend on callsthat produce contacts with consumers. Management is interested inthe distribution of time a collector spends on each call in whichthey initiate contact, inform a consumer about an outstanding debt,discuss a payment plan, and receive payments by phone. Credit Datais mostly interested in how quickly a collector can initiate andend a conversation to move on to the next call. For employees ofCredit Data, time is money in the sense that one account mayrequire one call and 2 minutes to collect, whereas another accountmay take five calls and 1 0 minutes per call to collect. Thecompany has discovered that the time collectors spend talking toconsumers about accounts is approximated by a normal distributionwith a mean of 8 minutes and a standard deviation of 2.5 minutes.The managers believe that the mean is too high and should bereduced by more efficient phone call methods. Specifically, theywish to have no more than 1 0% of all calls require more than 1 0.5minutes. Questions: Assuming that training can affect the averagetime but not the standard deviation, the managers are interested inknowing to what level the mean call time needs to be reduced inorder to meet the 1 0% requirement. Assuming that the standarddeviation can be affected by training but the mean time will remainat 8 minutes, to what level must the standard deviation be reducedi order to meet the 1 0% requirement? If nothing is done, whatpercent of all calls can be expected to require more than 10.5minutes?

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Brief Introduction

• Research methodology

• Research findings, discussion and conclusion

• Appendix contains the output used in your research

• With normal distribution sketch the graph and shade theregion