Your fiRm Generally Receives 5 Cheques a Month

question 258

Multiple Choice

Your firm generally receives 5 cheques a month. The cheque amounts and the collection delay for each cheque is shown below. Given this information what is the amount of the average daily float?
Assume a 30-day month.

• A) $2,108
• B) $3,143
• C) $7,254
• D) $13,720
• E) $18,860

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Definitions:

Hypothesis

A hunch or prediction that certain variables are related in certain ways.

Incidence

The number of new cases of a disorder occurring in a population over a specific period of time.

Prevalence

The proportion of a particular population found to be affected by a medical condition, mental health disorder, or broader phenomenon at a specific time.

Causal Relationship

A connection between two variables where a change in one directly provokes a change in the other.