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The convoy Truck Company has been faced with steadily increasing fuel, labour, repair andequipment costs. Although the company has raised rates as much as possible to reflect increasedcosts, many of the rates are subject to government regulation.Four years ago, convoy completed an extensive study of the company and revenues associatedwith operations. The average profit per truckload shipment was found to be $ 158.12. Convoydoesn’t want to go through such an extensive study again because of the costs involved anddoesn’t feel the need to, because it hasn’t altered operations. Rather than a complete study themangers decide to select a random sample of invoices, determine the average profitability of thissample and see if the per-run profitability has changed. The results of the sample are as follows.Sample size = 800 invoicesAverage Sample Profit = $ 149.76Sample standard deviation = $ 189.90