u 3.- 20 marks The number of days between billing and payment of charge accounts
ID: 328425 • Letter: U
Question
u 3.- 20 marks The number of days between billing and payment of charge accounts at Groshen's, a large department store, is approximately normally distributed with a mean of 18 days and standard deviation of 4 days. What is the probability that a bill will be paid between 12 and 18 days? What is the probability that a bill will be paid between 20 and 23 days? What is the probability that a bill will be paid between 10 and 20 days? What is the probability that a bill will take longer than 21 days to be paid? What is the probability that a bill will take less than 16 days to be paid? a. b. c. d. e.Explanation / Answer
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Probability calculation z=(specified time-path expected time)/variance -1.5= (12-18)/4 Probability '=NORMSDIST(z)Related Questions
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