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

question 39

Multiple Choice

A study of a company's practice regarding the payment of invoices revealed that on the average an invoice was paid 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?

• A) 15.87%
• B) 37.91%
• C) 34.13%
• D) 86.74%

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Definitions:

Lao-Tzu

An ancient Chinese philosopher and writer, traditionally regarded as the founder of Taoism and the author of the "Tao Te Ching."

Tao Te Ching

An ancient Chinese text fundamental to Taoism, attributed to Laozi, that emphasizes living in harmony with the Tao, or the fundamental nature of the universe.

Presuppositions

Implicit assumptions or beliefs that are taken for granted without being explicitly stated, serving as a foundation for reasoning and discourse.

Philosophers

Individuals dedicated to studying and exploring questions about existence, ethics, knowledge, and the mind.