Blue Moon Limousine Service runs an hourly shuttle from the local airport to the waterfront district in
Question:
Blue Moon Limousine Service runs an hourly shuttle from the local airport to the waterfront district in downtown. Its drivers are expected to learn their route and then be able to meet the company’s standard time of one hour for the round trip. They are monitored during the training period. Below is the record of times for Joe Black, a new driver for Blue Moon.
REQUIRED:
Using three weeks as the basis for your lean accounting elapsed time metric, calculate the average time Joe Black takes to complete a round trip to downtown. Specifically, use the first three trips as your baseline, then add one new observation and delete one to get the Trip 4 average, and so forth through Trip 6.
Step by Step Answer:
Managerial Accounting An Integrative Approach
ISBN: 9780999500491
2nd Edition
Authors: C J Mcnair Connoly, Kenneth Merchant