Question: A mail - order firm processes 5 , 8 0 0 checks per day. Of these, 6 0 percent are for $ 4 9 and
A mailorder firm processes checks per day. Of these, percent are for $ and percent are for $ The $ checks are delayed two days on average; the $ checks are delayed three days on average.Assume days in a month.
aWhat is the average daily collection float? Do not round intermediate calculations and round your answer to the nearest whole number, egaHow do you interpret your answer?bWhat is the weighted average delay? Do not round intermediate calculations and round your answer to decimal places, egbCalculate the average daily float. Do not round intermediate calculations and round your answer to the nearest whole number, egcHow much should the firm be willing to pay to eliminate the float? Do not round intermediate calculations and round your answer to the nearest whole number, egdIf the interest rate is percent per year, calculate the daily cost of the float. Use days a year. Do not round intermediate calculations and round your answer to decimal places, egeHow much should the firm be willing to pay to reduce the weighted average float by days? Do not round intermediate calculations and round your answer to the nearest whole number, eg
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