The mean collection period for accounts receivable at Ephemeral Products is 18.5 days with a standard deviation

Question:

The mean collection period for accounts receivable at Ephemeral Products is 18.5 days with a standard deviation of 4.8 days.

(a) What is the standardized z-score for an account that is paid in 30 days?

(b) Is that account an outlier?

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...