Eli Owned a Small Repair Shop

question 17

Multiple Choice

Eli owned a small repair shop. Each day, he would check the mail to see if any of his customers mailed in a payment for the work he had done for them. Some days, he would receive a check or two. At other times, he would have to wait days before getting another payment. What schedule of reinforcement is evident here?

• A) variable interval
• B) fixed interval
• C) fixed ratio
• D) variable ratio

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Definitions:

Annual Discount Rate

The rate used to discount future cash flows to the present value, reflecting the time value of money and investment risk.

Receiving Annually

Refers to receiving a particular sum or type of benefit every year.

Perpetually

Continuing forever or for an indefinite period without anticipated termination.

Cash Flow

The total sum of cash and cash-equivalents that flows in and out of a company.