Your Average Customer Is Located 4

question 52

Multiple Choice

Your average customer is located 4.3 mailing days away from your firm. You have determined that, on average, it is taking your staff 1.5 days to process payments received from customers. In addition, it takes an average of 2.2 days for your funds to be available for use once you have made your bank deposit. What is your firm's collection time?

• A)2.2 days
• B)3.7 days
• C)4.3 days
• D)5.8 days
• E)8.0 days

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Definitions:

Stimulus Generalization

The process by which a conditioned response is triggered by stimuli that are similar to the original conditioned stimulus.

Learned Response

A reaction or behavior that results from repeated exposure, practice, or conditioning, rather than being an inborn or instinctual response.

Vicarious Learning

Learning that occurs by observing the behaviors and outcomes of others rather than through direct experience.

Latent Learning

A form of learning that occurs without any obvious reinforcement of the behavior or associations that are learned.