If Excel Inc

question 86

Multiple Choice

If Excel Inc. has projected sales of $30,000 in January, $20,000 in February, and $20,000 in March, where 80% of sales are on credit, 20% are collected in the month of sale, and 80% are collected the month after, what are the cash receipts in March?

• A) $20,000
• B) $16,000
• C) $21,400
• D) $10,300

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Definitions:

Mean Annual Income

The average amount of money earned per year by an individual or household.

Standard Deviation

This statistical index measures how spread out the numbers in a data set are.

Confidence Interval

An expanse of values, garnered from sample analysis, envisioned to embrace the value of an undetected population parameter.

Mean Score

The average score calculated by adding all individual scores together and then dividing by the number of scores.