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A mail-order firm processes 5,800 checks per month. Of these, 70 percent are for $48 and 30 percent are for $80. The $48 checks are
A mail-order firm processes 5,800 checks per month. Of these, 70 percent are for $48 and 30 percent are for $80. The $48 checks are delayed three days on average; the $80 checks are delayed four days on average. Assume 30 days in a month. e. How much should the firm be willing to pay to reduce the weighted average float to 1.5 days? (Do not round intermediate calculations.)
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