Use the Data Given Below to Answer the Following Questions)

question 13

Essay

Use the data given below to answer the following questions).
The following extract from a manufacturer's database shows a sample of 10 suppliers, their transportation charges, and the estimated and actual total costs of supplying materials. Note: Assume a significance level of 0.05 wherever necessary.) $$\begin{array} { | l | c | c | c | } \hline \text { Supplier } & \begin{array} { c } \text { Transportation } \\\text { Charges }\end{array} & \begin{array} { c } \text { Estirnated Total } \\\text { Cost }\end{array} & \text { Actual Total Cost } \\\hline \text { Peter } & 340 & 4,500 & 4,680 \\\hline \text { Jdhry } & 560 & 4,500 & 4,790 \\\hline \text { Martin } & 480 & 4,500 & 5,110 \\\hline \text { Philip } & 290 & 4,500 & 4,780 \\\hline \text { Mark } & 370 & 4,500 & 4,810 \\\hline \text { Thomas } & 520 & 4,500 & 4,770 \\\hline \text { Jaison } & 350 & 4,500 & 5,250 \\\hline \text { David } & 430 & 4,500 & 4,930 \\\hline \text { Carter } & 510 & 4,500 & 5,010 \\\hline \text { Leonard } & 270 & 4,500 & 4,810 \\\hline\end{array}$$
-Conduct the appropriate type of one-sample test-statistic to determine whether the average transportation charge is less than $430.

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Definitions:

Facility

A physical or virtual space configured to serve a specific purpose, such as manufacturing, storage, or office work.

Present Value

The current value of a future sum of money or stream of cash flows, given a specific rate of return.

Discount Rate

During discounted cash flow analysis, this is the rate employed to determine the present value of anticipated future cash flows.

Cash Flows

The total amount of money being transferred into and out of a business, often used as an indicator of a company's financial strength.