The finance director of a hardware wholesaler

Assignment Help Applied Statistics
Reference no: EM13912468

The finance director of a hardware wholesaler has asked the accountant to ring each customer five days before their account payment is due, as a means of reducing the number of late payments. As a result of time constraints, however, only 60% of customer's received such a call from the accountant. Of the customers called, 90% pay on time. The company has just received a payment on time from a customer. What is the probability that the accountant called this customer. 

Reference no: EM13912468

Questions Cloud

How the company originally reported their revenue : Include your analysis of how the revenue recognition concepts we have studied are in conflict with how the company originally reported their revenue and why you believe the restatement is required.
Cash budget comprehensive following are the budgeted : Cash budget comprehensive Following are the budgeted income statements for the second quarter of 2013 for SeaTech, Inc.:
Exhaust gases and why the removal : The pollutant gas CO is also found in the exhaust gases from petrol engines. Explain how CO and NO are removed from the exhaust gases and why the removal of each of them is desirable.
How to minimize the cost of producing a ton of steel : Assume that the tensile strength of a mixture of the two alloys can be determined by averaging that of the alloys that are mixed together. For example, a one-ton mixture that is 40% alloy 1 and 60% alloy 2 has a tensile strength of 0.4(42,000) + 0..
The finance director of a hardware wholesaler : The finance director of a hardware wholesaler has asked the accountant to ring each customer five days before their account payment is due, as a means of reducing the number of late payments. As a result of time constraints, however, only 60% of cust..
Simple money multiplier : Assuming individuals hold no currency, calculate the simple money multiplier for each of the following reserve ratios
Astronaut finds chlorine abundances : On a mission to a newly discovered planet, an astronaut finds chlorine abundances of 13.85 for and 86.15 for . What is the atomic mass of chlorine for this location?
All sales are made on account : Laura's Dress Delivery is in the mail-order business, all sales are made on account. The company expects a 21 percent drop in sales for January
Descriptive statistics and regression equations : Use excel to generate scatterplots, descriptive statistics, and regression equations.An additional observation at the bottom of the data file, needs to be added to the dataset. You should clearly mark on the Excel or Minitab file, which dataset (enti..

Reviews

Write a Review

Applied Statistics Questions & Answers

  Find a confidence interval for the proportion of camera

Find a 95 percent confidence interval for the proportion of all digital camera customers who have purchased the new warranty. Are we 95 percent confident that this proportion exceeds .20?

  Standard deviation applicability

Why is normality required for standard deviation applicability?

  What is the average number of breakdowns per day

This variable represents the number of machine breakdowns during a day, based on this simulation run, what is the average number of breakdowns per day?

  What is the probability that at least 10 pay cash

What is the probability that at least 10 pay cash - Davids gasoline station offers 4 cents off per gallon if a customer pays cash and does not use a credit card.

  An investigator wants to estimate caffeine consumption in hi

An investigator wants to estimate caffeine consumption in high school students. How many students would be required to estimate the proportion of students who consume coffee? Suppose we want the estimate to be within 5% of the true proportion with 95..

  What is the standard error of estimate

Interpret the coefficients - what does the regression line tell you about the heights of sons of tall fathers - what is the standard error of estimate? Interpret its value.

  Wilcoxon rank-sum test

Determine the significance of the difference between the groups and determine whether building systems helped reduce new cases of malaria.

  Critical thinking

Critical Thinking

  Write your own newspaper article

Write your own newspaper article for the study with at least one appropriate table or graph.

  What is the probability that a directly exposed

According to the Annual death rate from malignant neoplasms table, what is the probability that a directly exposed hibakusha (Person-years 1968-1972) living within 2 kilometers of Hiroshima would die: All hibakusha and Non-hibakusha

  Determining the most effective format for advertising

A researcher is interested in determining the most effective format for advertising. He randomly assigns 60 people to one of three groups: (1) television commercial, (2) radio commercial, or (3) magazine advertisement. Group members review the commer..

  The coin lands either all heads or all tails

Toss the coin four times. If the coin lands either all heads or all tails, reject Ho: p=1/2 (the p denotes the chance for the coin to land on heads.) Complete parts a and b. a. what is the probability of a type 1 error for this procedure? b. if p=4/5..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd