Percentage of the accounts will receive the discount

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General Hospital's patient account division has complied 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?

P(20≤X≤30)=P()

P= (-0.29≤Z≤1.14)= 0.8729-0.3859=0.487

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 wants 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?

Reference no: EM132232648

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