On Average, Your Firm Receives 50 Checks a Day from Customers

question 313

Multiple Choice

On average, your firm receives 50 checks a day from customers. These checks, on average, are worth $20 each and clear the bank in 4 days. In addition, your firm mails out 40 checks a day with an average amount of $30. These checks clear your bank in 3 days. What is the average amount of the collection float?

• A) $1,000
• B) $3,600
• C) $4,000
• D) $4,500
• E) $6,000

Understand micromarketing and its application to target marketing efforts.

Grasp the concept of perceptual mapping and its role in understanding competitive positioning.

Analyze the steps involved in the segmentation, targeting, and positioning (STP) process.

Differentiate between various segmentation bases (demographic, psychographic, geodemographic, behavioral) and their applications.

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Definitions:

Abbreviations

Shortened forms of words or phrases used to simplify communication, often created from the initial letters of the words in a phrase.

ELL

English Language Learners; individuals who are learning the English language in addition to their native language.

Information-Processing System

A framework or model used to describe how humans and machines process, analyze, and store information.

Control Processes

The mental functions that help regulate, direct, and command abilities and behaviors, crucial for attaining goals and problem-solving.