Your Firm Deals Strictly with Four Customers

question 105

Multiple Choice

Your firm deals strictly with four customers. The average amount that each customer pays per month along with the collection delay associated with each payment is shown below. Given this information, what is the weighted average delay? Assume that every month has 30 days.

• A) 3.01 days
• B) 3.27 days
• C) 3.32 days
• D) 3.50 days
• E) 3.55 days

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Definitions:

System

A set of interacting or interdependent components forming an integrated whole to serve a common purpose.

Average Number

The sum of values divided by the count of values, used to find the central or typical value in a set of numbers.

Customers

Individuals or businesses that purchase goods or services from a company or store.

Queue

A queue of individuals or vehicles lined up awaiting their chance to proceed or receive service.