The following information is given regarding driving lessons provided by Arrive Alive Company over several spans of time: $$\begin{array} { l r r r }
& & { \text { Length of Tine } } \
& \text { TODAY } & \text { ONE YEAR } & \text { FIVE YEARS } \
\text { Total cost of lessons } & \$ 600 & \$ 110,000 & \$ 508,000 \
\text { Number of lessons } & 50 & 10,000 & 55,000
\end{array}$$ Select the incorrect statement from the following.
A) The average cost per lesson over the five-year period was $9.24.
B) Based on the most current information, the cost per lesson was $12.00.
C) The average cost based on the total five-year period is probably the most appropriate cost for pricing purposes.
D) The selection of the most appropriate time span for calculating the average cost often requires considerable judgment.

Question

The following information is given regarding driving lessons provided by Arrive Alive Company over several spans of time: $$\begin{array} { l r r r } 
& & { \text { Length of Tine } } \
& \text { TODAY } & \text { ONE YEAR } & \text { FIVE YEARS } \
\text { Total cost of lessons } & \$ 600 & \$ 110,000 & \$ 508,000 \
\text { Number of lessons } & 50 & 10,000 & 55,000
\end{array}$$ Select the incorrect statement from the following.
A) The average cost per lesson over the five-year period was $9.24.
B) Based on the most current information, the cost per lesson was $12.00.
C) The average cost based on the total five-year period is probably the most appropriate cost for pricing purposes.
D) The selection of the most appropriate time span for calculating the average cost often requires considerable judgment.

Quizplus · Accepted Answer

The Answer of The following information is given regarding driving lessons provided by Arrive Alive Company over several spans of time: $$\begin{array} { l r r r } 
& & { \text { Length of Tine } } \
& \text { TODAY } & \text { ONE YEAR } & \text { FIVE YEARS } \
\text { Total cost of lessons } & \$ 600 & \$ 110,000 & \$ 508,000 \
\text { Number of lessons } & 50 & 10,000 & 55,000
\end{array}$$ Select the incorrect statement from the following.
A) The average cost per lesson over the five-year period was $9.24.
B) Based on the most current information, the cost per lesson was $12.00.
C) The average cost based on the total five-year period is probably the most appropriate cost for pricing purposes.
D) The selection of the most appropriate time span for calculating the average cost often requires considerable judgment.

The Following Information Is Given Regarding Driving Lessons Provided by Arrive