The weekly capacity measured in machine hours for a small machine shop follows the probability distribution shown below:
Based on the probability distribution above,the expected value,or average hours of weekly capacity for the machine shop is
Definitions:
Cash Cycle
The duration of time a company takes to convert its inventory and other resource inputs into cash flows from sales.
Inventory Period
The average time it takes for a company to turn its inventory into sales, often used to evaluate the efficiency of inventory management.
Accounts Payable Period
The average number of days it takes for a business to pay off its creditors and suppliers.
Receivables Turnover
A financial metric indicating how quickly a company collects payments from its customers, calculated as sales divided by accounts receivable.
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