Refer to Problem 7.3. The head of the Mariposa County Accounting Department wants to establish a standard
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Problem 7.3
According to records kept by Mariposa County, the average (mean) amount of time that it takes for employees to be reimbursed for professional expenses incurred in service to the county is 36 days, with a standard deviation of 5 days. The distribution is normal. About 2 months ago, Latisha MacNeil attended a training conference for her job in the County Recreation Department. She filed for reimbursement of expenses that she incurred at the conference 42 days ago, but she has not received payment. What is the probability of receiving reimbursement within 42 days of filing? After 42 days? At this point, should Ms. MacNeil be apprehensive about receiving reimbursement?
Distribution
The word "distribution" has several meanings in the financial world, most of them pertaining to the payment of assets from a fund, account, or individual security to an investor or beneficiary. Retirement account distributions are among the most...
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Applied Statistics For Public And Nonprofit Administration
ISBN: 9781285737232
9th Edition
Authors: Kenneth J. Meier, Jeffrey L. Brudney, John Bohte
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