Assignment-QM.docx - Question One The convoy Truck Company has been faced with steadily increasing fuel labour repair and equipment costs Although the

# Assignment-QM.docx - Question One The convoy Truck Company...

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Question One The convoy Truck Company has been faced with steadily increasing fuel, labour, repair and equipment costs. Although the company has raised rates as much as possible to reflect increased costs, many of the rates are subject to government regulation. Four years ago, convoy completed an extensive study of the company and revenues associated with operations. The average profit per truckload shipment was found to be \$ 158.12. Convoy doesn’t want to go through such an extensive study again because of the costs involved and doesn’t feel the need to, because it hasn’t altered operations. Rather than a complete study the mangers decide to select a random sample of invoices, determine the average profitability of this sample and see if the per-run profitability has changed. The results of the sample are as follows. Sample size = 800 invoices Average Sample Profit = \$ 149.76 Sample standard deviation = \$ 189.90 i. Formulate the null and alternative hypothesis for convoy Truck Company (3 marks)

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• Summer '19
• Jane
• Standard Deviation, Harshad number, \$ 149.76, \$ 158.12, \$ 189.90