## [solution]: 4. Float and Weighted Average Delay Your neighbor goes to the post office once a month and picks...

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4.        Float and Weighted Average Delay   Your neighbor goes to the post office once a month and picks up two checks, one for \$14,000 and one for \$5,000. The larger check takes four days to clear after it is deposited; the smaller one takes three days. Assume 30 days in a month. a.   What is the total float for the month? b.   What is the average daily float? c.    What are the average daily receipts and weighted average delay?

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This question was answered on: Dec 18, 2020

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