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Total float, average float and weighted average delay

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Your neighbor goes to the post office one a month and picks up two checks, one for $13,000 and one for $4,000. The larger check takes four days to clear after it is deposited; the smaller one takes five days.

a. What it 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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The solution explains how to calculate the total float, average float and weighted average delay.

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a. What it the total float for the month?

Total float = 4($13,000) + 5($4,000)
Total float = $72,000

b. What is the average daily float?

The average daily float is the total float divided by the number of days ...

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