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The managers of an import agency are investigating the length of time that customers take to pay their invoices, the normal terms for which are 30 days net. They have checked the payment record of 100 customers chosen at random and have compiled the following table: a. Construct a histogram and use it to estimate the modal value.  b. Estimate the probability that an unpaid invoice chosen at random will be between 30 and 39 days old.

The managers of an import agency are investigating the length of time that customers take to pay their invoices, the normal terms for which are 30 days net. They have checked the payment record of 100 customers chosen at random and have compiled the following table: a. Construct a histogram and use it to estimate the modal value.  b. Estimate the probability that an unpaid invoice chosen at random will be between 30 and 39 days old.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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The managers of an import agency are investigating the length of time that customers take to pay their invoices, the normal terms for which are 30 days net. They have checked the payment record of 100 customers chosen at random and have compiled the following table:

a. Construct a histogram and use it to estimate the modal value. 

b. Estimate the probability that an unpaid invoice chosen at random will be between 30 and 39 days old. 

Payment in days 5 to 9 10 to 14 15 to 19 | 20 to 24 25 to 29 30 to 34 35 to 39 40 to 44 No. of customers 10 17 20 22 16 8. 3
Transcribed Image Text:Payment in days 5 to 9 10 to 14 15 to 19 | 20 to 24 25 to 29 30 to 34 35 to 39 40 to 44 No. of customers 10 17 20 22 16 8. 3
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