A Local Courier Service Advertises That Its Average Delivery Time

question 55

Multiple Choice

A local courier service advertises that its average delivery time is less than 6 hours for local deliveries. When testing the two hypotheses, H₀: μ ≥ 6 and H_A: μ < 6, μ stand for ________.

• A) the mean delivery time
• B) the standard deviation of the delivery time
• C) the number of deliveries that took less than 6 hours
• D) the proportion of deliveries that took less than 6 hours

---

Definitions:

Return on Sales Ratio

A measure of a company's operational efficiency, calculated by dividing operating profit by net sales.

Return on Total Assets

A profitability ratio that measures the net income produced by total assets during a period by comparing net income to the average total assets.

Ratio

A relationship of two quantities or numbers, one divided by the other.

Trend Percentage

A financial analysis tool that shows how a set of financial or quantitative data changes over time, often expressed as a percentage.