A large company is trying to manage its accounts receivable more efficiently than in the past. It

Question:

A large company is trying to manage its accounts receivable more efficiently than in the past. It selects a random sample of 100 these accounts, and tracks how old they are. (The company's accounting system does not track account age, although there are plans for an upgrade soon.) The codes associated with the account ages are shown below:

1 - 0 to 30 days old

2 - 31 to 60 days old

3 - more than 60 days old.

Create a 95% confidence interval estimate for the proportion of the company's accounts that are 0 to 30 days old.

Accounts Receivable
Accounts receivables are debts owed to your company, usually from sales on credit. Accounts receivable is business asset, the sum of the money owed to you by customers who haven’t paid.The standard procedure in business-to-business sales is that...