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

question 2

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


Definitions:

Continuous-Process

A manufacturing or production process that operates constantly, without interruption, to produce products or materials.

Organizational Design

The process of structuring an organization's roles, responsibilities, and systems in a way that aligns with its goals and strategy.

Bureaucratic Aspects

Elements or characteristics associated with bureaucracy, such as hierarchical structure, formal rules, and impersonal decision-making processes.

Leadership Of The Manager

Involves guiding and inspiring a team towards achieving goals through effective decision-making and interpersonal skills.

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