Sports 'n More receives five checks per month. These checks average $811, $416, $6,420, $22,900, and $8,700. The three larger sized check amounts are available after 1.5 days while the two smaller check amounts are available after one day. What is the weighted average delay?

A) 1.48 days
B) 1.39 days
C) 1.46 days
D) 1.37 days
E) 1.00 day


A) 1.48 days
Explanation: Total receipts = $811 + 416 + 6,420 + 22,900 + 8,700
Total receipts = $39,247
Weighted average delay = [($6,420 + 22,900 + 8,700)/$39,247](1.5) + [($811 + 416)/$39,247](1)
Weighted average delay = 1.48 days

Business

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