Exhibit 2-1 The Numbers of Hours Worked (Per Week)by 400 Statistics Students

question 24

Multiple Choice

Exhibit 2-1
The numbers of hours worked (per week) by 400 statistics students are shown below.

-Refer to Exhibit 2-1.The number of students working 19 hours or less

• A)is 80
• B)is 100
• C)is 180
• D)is 300

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Definitions:

Lockboxes

Special post office boxes set up to intercept and speed up accounts receivable payments.

Accounts Receivable

The sum of money that customers owe to a company for products or services that have been provided but not yet compensated for.

Speed Up Payments

Actions or policies implemented to reduce the time it takes to receive payments from customers, thereby improving cash flow.

Lockboxes

A service provided by banks to process payments more quickly by having checks sent to a special post office box instead of the company's address.