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-1 What are the average daily receipts?
c-2 What are the weighted average delay?