Upstate Hospital’s patient account division has compiled data on the age of accounts receivables. The data collected indicate that the age of the accounts follows a normal distribution with a mean of 22 days and a standard deviation of 7 days.
What portion of the accounts is between 20 to 30 days old?
The hospital administrator is interested in sending reminder letters to the oldest 25% of accounts. How many days old should an account be before a reminder letter is sent?
The hospital administrators want to give a fast-payment discount to those accounts that pay their balance by the10th day. What percentage of the accounts will receive the discount?
Get Answers For Free
Most questions answered within 1 hours.