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Upstate Hospital’s patient account division has compiled data on the age of accounts receivables. The data...

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?

Math   Statistics-And-Probability   
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