A Customer Sends Payment to a Post Office Box Which

question 115

Multiple Choice

A customer sends payment to a post office box which is emptied by a firm's bank daily. The bank then processes the payments and notifies the firm of the day's collections. This collection technique is known as ________.

• A) a direct send
• B) concentration banking
• C) the lockbox system
• D) controlled disbursing

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Definitions:

Factorial Experiment

An experimental design in which the effects of two or more variables are measured simultaneously.

Normally Distributed

Refers to a probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean.

Samples

Individual observations or subsets of data collected from a larger population for the purpose of statistical analysis.

Balanced Experiment

An experimental design where all groups or treatments have an equal number of subjects, minimizing bias and variability.