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Taylor and Swanson currently sells on a cash basis only. The firm is considering switching to a 30-
day credit policy. When analyzing the cost benefit of this switching policy, the firm should consider
the rate of default.
Distribution Shape
Refers to the geometric arrangement of data points in a distribution, common shapes include normal, skewed, or bimodal distributions.
Mean Number
The arithmetic average of a set of values, calculated by dividing the sum of all values by the number of values.
Median Salary
The middle value of salaries when they are arranged in ascending or descending order, effectively dividing the data set into two equal halves.
Mean
The arithmetic average of a set of numbers, calculated by summing all the numbers and dividing by the count of those numbers.
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