a mail order firm processes 6 300 checks per month. of these, 70 percent are for...

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a mail order firm processes 6 300 checks per month. of these, 70percent are for $53 and 30 percent are for $85. the $53 checks aredelayed two days on average; the $85 checks are delayed three dayson average. assume 30 days in a month. a.1 what is the averagedaily collection float. a.2 how do you interpret your answer. b.1what is the weighted average delay. b2. calculate the average dailyfloat. c. how much should the firm be willing to pay to eliminatethe float. d. if the interest rate is 6 percent per year, calculatethe daily cost of the float. e. how much should the firm be willingto pay to reduce the weighted average float to 2 days.

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a mail order firm processes 6 300 checks per month. of these, 70percent are for $53 and 30 percent are for $85. the $53 checks aredelayed two days on average; the $85 checks are delayed three dayson average. assume 30 days in a month. a.1 what is the averagedaily collection float. a.2 how do you interpret your answer. b.1what is the weighted average delay. b2. calculate the average dailyfloat. c. how much should the firm be willing to pay to eliminatethe float. d. if the interest rate is 6 percent per year, calculatethe daily cost of the float. e. how much should the firm be willingto pay to reduce the weighted average float to 2 days.