Question
A medical center is performing an audit of its accounts receivable. Of particular interest is the number of days that unpaid hospital bills remain outstanding.
A medical center is performing an audit of its accounts receivable. Of particular interest is the number of days that unpaid hospital bills remain outstanding. One tool for analyzing this variable is an "aging schedule," which classifies accounts by the time elapsed since the first billing notice. Over the last 5 years, the medical center has worked with the following aging schedule:
For a random sample of 300 accounts, the auditors find the following distribution this year:
Calculate the expected count (e) for the category "15-29 days" to two (2) decimal places.
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