A Study of a Company's Practice Regarding the Payment of Invoices

question 72

Multiple Choice

A study of a company's practice regarding the payment of invoices revealed that on the average an
Invoice was paid 20 days after it was received. The standard deviation equalled five days.
Assuming that the distribution is normal, what percent of the invoices were paid within 15 days of
Receipt?

• A) 15.87%
• B) 37.91%
• C) 34.13%
• D) 86.74%

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Definitions:

Primary Types

Refers to the main or most important categories or classifications within a broader system or framework.

Group Differentiation

The process by which members of a group distinguish themselves from members of other groups through social, cultural, or physical markers.

Construct Validity

The extent to which a test may be said to accurately and thoroughly measure a particular construct or trait.

Construct Validity

The extent to which a test or instrument measures the theoretical construct or concept it is intended to measure.