Business, 21.02.2020 22:36 mannyrocks1532

A mail-order firm processes 4,700 checks per month. Of these, 60 percent are for $37 and 40 percent are for $69. The $37 checks are delayed two days on average; the $69 checks are delayed three days on average. Assume 30 days in a month.
1. What is the average daily collection float?
2. How do you interpret your answer? (Do not round intermediate calculations.)

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A mail-order firm processes 4,700 checks per month. Of these, 60 percent are for $37 and 40 percent...

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