Math

A study of Hub Furniture regarding the payment of invoices reveals the time from billing until payment is received follows the normal distribution. The mean time until payment is received is 20 days and the standard deviation is 5 days.

a. What percent of the invoices are paid within 15 days of receipt?

b. What percent of the invoices are paid in more than 28 days?

c. What percent of the invoices are paid in more than 15 days but less than 28 days?

d. The management of Hub Furniture wants to encourage their customers to pay their monthly invoices as soon as possible. Therefore, it announced that a 2 percent reduction in price would be in effect for customers who pay within 7 days of the receipt of the invoice. What percent of customers will earn this discount?

  1. 👍 0
  2. 👎 0
  3. 👁 72
asked by Tim

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    A study of Hub Furniture regarding the payment of invoices reveals the time from billing until payment is received follows the normal distribution. The mean time until payment is received is 20 days and the standard deviation is 5

    asked by tiron on January 11, 2010
  2. English

    Background You’ve applied for a specific job in your field of study. The Human Resources Department arranges an interview and tells you to bring with you a polished piece of writing for them to evaluate your writing skills. The

    asked by Mary on March 7, 2011
  3. Accounting

    Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.

    asked by Kimmie on November 28, 2016
  4. math

    calculate the average daily balance from the following(30-day billing cycle) 7-21 billing date previous balance $400 7-28 payment $40 credit 7-31 charge $60 8-6 payment $10 credit 8-13 cash advance $50

    asked by andrea on November 24, 2011
  5. Algebra

    The Smith family made an $800 down payment and pays $75 a month for new furniture. At the same time the Cooper family made a $500 down payment and pays $95 a month for their new furniture. How many months until the amounts they

    asked by CS on February 11, 2014
  6. math

    Wallace and Sarah purchased furniture for their new home. They had two payment options. The first option is to pay a cash payment of $4200. The second option is to finance the furniture with a two year installment loan. The loan

    asked by Terry on January 18, 2012
  7. writing sentences and paragraphs

    Paragraph 1 Background You’ve applied for a specific job in your field of study. The Human Resources Department arranges an interview and tells you to bring with you a polished piece of writing for them to evaluate your writing

    asked by me too on February 22, 2010
  8. ENGLISH

    I'm trying to make sure that my grammar is correct. I need to send this to a customer. Sorry for the misunderstanding about your account. After reviewing your account with the billing processor the last payment that you sent was

    asked by ANGELA on January 30, 2018
  9. English

    An agreement could be when you go to a furniture store like Ashley’s, and they have many sales going on, for example no interest until March 2017 but, payments have to be made in time, and furniture has to be paid before March

    asked by antonio on January 28, 2015
  10. HCA 230

    Employees from the billing dept. are not receiving the accurate codes and information needed for data entry, slowing prodcution and payment for the doctors. As head of the billing department,you have been delegated to lead a

    asked by Friend on October 14, 2009

More Similar Questions