1. consider the 40% of all bills that have the highest charges. a. what is the a

Question

1. consider the 40% of all bills that have the highest charges.

a. what is the average value of these bills?

b. what is the average number of days required for preparation of these bills?

c. how much money could be saved if the average bill preparation time could be reduced by 20%?

DAYS CHARGES 7.00 7636.00 7.00 7013.00 7.00 7991.00 15.00 79323.00 15.00 75195.00 15.00 66387.00 15.00 78183.00 15.00 58211.00 15.00 58587.00 15.00 33756.00 15.00 55233.00 15.00 57017.00 15.00 32151.00 15.00 68767.00 22.00 195980.00 22.00 170902.00 22.00 171789.00 22.00 175355.00 22.00 182857.00 22.00 144831.00 22.00 121047.00 22.00 131859.00 22.00 250229.00 22.00 155732.00 22.00 135465.00 22.00 131054.00 22.00 195967.00 22.00 202890.00 22.00 123108.00 22.00 183211.00 22.00 123312.00 22.00 247612.00 22.00 169137.00 22.00 129528.00 22.00 163002.00 22.00 208637.00 22.00 213685.00 22.00 131338.00 22.00 133696.00 22.00 190288.00 22.00 143005.00 22.00 230812.00 22.00 176141.00 22.00 232811.00 22.00 123044.00 22.00 264905.00 22.00 121228.00 22.00 187277.00 22.00 154928.00 22.00 115417.00 22.00 241092.00 22.00 228054.00 22.00 201191.00 22.00 154129.00 22.00 115430.00 22.00 200355.00 22.00 117801.00 22.00 191317.00 22.00 121610.00 30.00 296277.00 30.00 340867.00 30.00 588069.00 30.00 318943.00 30.00 301526.00 30.00 413134.00 30.00 283111.00 30.00 468586.00 30.00 330240.00 30.00 419454.00 30.00 555705.00 30.00 341063.00 30.00 243380.00 30.00 412603.00 30.00 347034.00 30.00 457336.00 30.00 266869.00 30.00 216232.00 30.00 320254.00 30.00 282692.00 30.00 329928.00 30.00 308050.00 30.00 296900.00 30.00 262163.00 30.00 336873.00 30.00 302263.00 30.00 342987.00 30.00 400829.00 30.00 331327.00 30.00 359580.00 30.00 332292.00 30.00 379047.00 30.00 437544.00 30.00 406582.00 30.00 518912.00 30.00 420679.00 30.00 273222.00 30.00 339694.00 30.00 405773.00 30.00 259689.00 30.00 364292.00 30.00 376381.00 30.00 260248.00 30.00 387952.00 30.00 271489.00 30.00 472382.00 30.00 436799.00 30.00 371272.00 30.00 387340.00 30.00 290439.00 30.00 305253.00 30.00 210367.00 30.00 236283.00 30.00 476216.00 30.00 432369.00 30.00 304228.00 30.00 593019.00 30.00 377749.00 30.00 350298.00 30.00 303846.00 37.00 615067.00 37.00 871234.00 37.00 794892.00 37.00 494464.00 37.00 576607.00 37.00 480625.00 37.00 643903.00 37.00 651297.00 37.00 683838.00 37.00 714792.00 37.00 838673.00 37.00 486895.00 37.00 816031.00 37.00 482771.00 37.00 712951.00 37.00 826219.00 37.00 482980.00 37.00 582658.00 37.00 736234.00 37.00 1021868.00 37.00 603184.00 37.00 642991.00 37.00 988693.00 37.00 363504.00 37.00 666189.00 37.00 499714.00 37.00 567309.00 37.00 711916.00 37.00 1011368.00 37.00 777042.00 37.00 603519.00 37.00 561304.00 37.00 469571.00 37.00 719586.00 37.00 659554.00 37.00 718762.00 37.00 671895.00 37.00 327056.00 37.00 789871.00 37.00 928740.00 37.00 853068.00 37.00 536609.00 37.00 740004.00 37.00 630775.00 37.00 743084.00 37.00 522284.00 37.00 498028.00 37.00 549576.00 37.00 662487.00 37.00 732537.00 37.00 832933.00 37.00 494590.00 37.00 818244.00 37.00 655513.00 37.00 399269.00 37.00 428285.00 37.00 991400.00 45.00 1158200.00 45.00 998038.00 45.00 1057645.00 45.00 1130891.00 45.00 1505901.00 45.00 885937.00 45.00 1181289.00 45.00 1457027.00 45.00 1381943.00 45.00 910316.00 45.00 1484676.00 45.00 1240436.00 45.00 1046699.00 45.00 799208.00 45.00 892547.00 45.00 1011418.00 45.00 1135480.00 45.00 803725.00 45.00 645654.00 45.00 989380.00 45.00 1098902.00 45.00 1174918.00 45.00 969754.00 45.00 1072033.00 45.00 1134938.00 45.00 1163413.00 45.00 1379006.00 45.00 1234158.00 45.00 1289430.00 45.00 853554.00 45.00 1151873.00 45.00 855040.00 45.00 952962.00 45.00 807381.00 45.00 1073320.00 45.00 1196973.00 45.00 922725.00 45.00 690847.00 45.00 1127178.00 45.00 829088.00 45.00 1411132.00 45.00 1254613.00 45.00 1256299.00 45.00 1056396.00 45.00 969719.00 45.00 840615.00 45.00 1302174.00 45.00 835683.00 45.00 923315.00 45.00 997854.00 45.00 1100060.00 45.00 1512449.00 45.00 1740564.00 45.00 1213015.00 45.00 874159.00 45.00 905851.00 45.00 1528340.00 45.00 1051248.00 45.00 1061775.00 45.00 796609.00 45.00 1053945.00 45.00 1096467.00 45.00 1291050.00 52.00 1785600.00 52.00 1421334.00 52.00 1812570.00 52.00 1095514.00 52.00 1265149.00 52.00 1920665.00 52.00 1800604.00 52.00 1394532.00 52.00 2161006.00 52.00 1613599.00 52.00 1073337.00 52.00 1655928.00 52.00 1180407.00 52.00 1276093.00 52.00 1554969.00 52.00 2123779.00 52.00 1462404.00 52.00 3020053.00 52.00 1024071.00 52.00 1700516.00 52.00 1166233.00 52.00 1825632.00 52.00 1471090.00 52.00 1779010.00 52.00 1427283.00 52.00 1858078.00 52.00 1489205.00 52.00 2065408.00 52.00 1529216.00 52.00 1642286.00 52.00 1803497.00 52.00 900386.00 52.00 1874584.00 52.00 1676661.00 52.00 2014243.00 52.00 1856521.00 52.00 1893064.00 52.00 1178883.00 52.00 1206341.00 52.00 1440458.00 52.00 1677553.00 52.00 1662484.00 52.00 1156725.00 52.00 1267077.00 52.00 1707917.00 52.00 1493047.00 52.00 1479531.00 52.00 1214459.00 52.00 1685339.00 52.00 1527625.00 52.00 1733711.00 52.00 1717784.00 52.00 1304968.00 52.00 1523240.00 52.00 1361372.00 52.00 1563366.00 52.00 1230098.00 52.00 1367880.00 52.00 1576122.00 52.00 1431112.00 52.00 1907459.00 52.00 2162847.00 52.00 1173379.00 52.00 2138122.00 52.00 1165870.00 52.00 1681483.00 52.00 1614780.00 52.00 1157622.00 52.00 1494514.00 60.00 2359202.00 60.00 3040464.00 60.00 2902131.00 60.00 2549074.00 60.00 1512226.00 60.00 2104061.00 60.00 2327295.00 60.00 1601268.00 60.00 1557183.00 60.00 2054754.00 60.00 2526528.00 60.00 1810496.00 60.00 1859562.00 60.00 1959530.00 60.00 1073625.00 60.00 3429520.00 60.00 2040627.00 60.00 2679072.00 60.00 2268401.00 60.00 1564430.00 60.00 2153416.00 60.00 2123049.00 60.00 2502920.00 60.00 2758539.00 60.00 2566242.00 60.00 1498933.00 60.00 1629961.00 60.00 1906404.00 60.00 1946820.00 60.00 1847097.00 60.00 2263414.00 60.00 2208632.00 60.00 3227193.00 60.00 2142165.00 60.00 2879656.00 60.00 1832772.00 60.00 2746000.00 60.00 2134831.00 60.00 1490172.00 60.00 1774280.00 60.00 2308656.00 60.00 3351407.00 60.00 2077118.00 60.00 3228261.00 60.00 2061686.00 60.00 1849141.00 60.00 1797895.00 60.00 1564814.00 60.00 1895331.00 60.00 2588968.00 67.00 3947054.00 67.00 2209184.00 67.00 3420011.00 67.00 3089671.00 67.00 5274180.00 67.00 3553526.00 67.00 4678016.00 67.00 4341981.00 67.00 3751635.00 67.00 3055166.00 67.00 3445328.00 67.00 2338390.00 67.00 3880613.00 67.00 4001568.00 67.00 1794906.00 67.00 3815238.00 67.00 3503143.00 67.00 3375061.00 67.00 3912055.00 67.00 2605562.00 67.00 2146628.00 67.00 2646248.00 67.00 2510775.00 75.00 3478454.00 75.00 2735538.00 75.00 3899541.00 75.00 2838285.00 75.00 4415529.00 75.00 4036207.00 75.00 3689759.00 75.00 2772510.00 75.00 4312048.00 75.00 5926931.00 75.00 4237239.00 75.00 3148301.00 75.00 4484125.00 75.00 4523505.00 75.00 3209585.00 75.00 4182317.00 75.00 5235435.00 75.00 4506580.00 82.00 3449885.00 82.00 4357822.00 82.00 4550130.00 82.00 3912839.00 82.00 5512536.00 82.00 5796607.00 82.00 6294232.00 82.00 6972473.00 82.00 3596062.00 82.00 6269878.00 82.00 4478306.00 82.00 3853894.00 82.00 4420760.00 82.00 3600312.00 82.00 6873972.00 90.00 4826441.00 90.00 5374178.00 90.00 5825383.00 90.00 5643691.00 90.00 6500352.00 90.00 7354190.00 90.00 8335718.00 90.00 4852507.00 90.00 5369011.00 90.00 7415564.00 90.00 7338739.00 90.00 6663546.00 90.00 5805261.00 90.00 7903822.00 90.00 7568515.00 90.00 4828790.00 90.00 7854164.00 90.00 6445293.00 90.00 6418432.00 98.00 6118640.00 98.00 9569219.00 98.00 9950282.00 98.00 6347506.00 98.00 14022353.00 98.00 6299862.00 98.00 6526940.00 98.00 6658514.00 98.00 7750939.00 98.00 9106945.00 98.00 8263212.00 98.00 10162679.00

Explanation / Answer

There are Total 445 bills here so

40% of that bill = 178

so highest 178 bills. would be taken into consideration.

(1) average value of these bills = $35,37,128 [ used excel]

(2) Average time taken to prepare these bills = 67.95 days

(3) money could be saved if the average bill preparation time could be reduced by 20%.

if average bill preparation time would be reduced that means it would be reduced to 67.95 * 0.8 = 54.36 days

so money saved = [(67.95 - 54.36)/ 67.95] * 3537128 = $ 707,426

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