Using the Excel linear regression functions, develop a power curve expression (y = Cx
b) to estimate the effective rate, in $/c
wt, for a Class 85 shipment from Cleveland, OH (Hopkins International Airport area, ZIP code 44135) to Research Triangle Park, NC (ZIP code 27709). Use the CzarLite web site cited in this chapter (http://smc3apps.smc3.com/ Applications/WebCzarLite/Entry.asp) to obtain the rate data and enter it into Excel. Assume that your carrier has agreed to provide a discount of 46% from these rates (including the minimum charge), approximately the same as the estimated national average discount for LTL reported
by Kay and Warsing (2009). What are the actual and estimated effective rates for a 8500-lb shipment on the Cleveland-RTP lane?
Question: 4.7 Using the Excel linear regression functions, develop a power curve expression (y = Cxb) to estimate the effective rate, in $/cwt, for a Class 85 shipment from Cleveland, OH (Hopkins International Airport area, ZIP code 44135) to Research Triangle Park, NC (ZIP code 27709). Use the CzarLite website cited in 4.7 Using the Excel linear regression functions, develop a power curve expression (y = Cxb) to estimate the effective rate, in $/cwt, for a Class 85 shipment from Cleveland, OH (Hopkins International Airport area, ZIP code 44135) to Research Triangle Park, NC (ZIP code 27709). Use the CzarLite website cited in this chapter (http://smc3apps.smc3.com/Applications/WebCzarLite/Entry.asp) to obtain the rate data and enter it into Excel. Assume that your carrier has agreed to provide a discount of 46% from these rates (including the minimum charge), approximately the same as the estimated national average discount for LTL reported TABLE 4.10 Rate Tariff for Exercise 4.6 Weight Group Minimum Weight (lb) Freight Rate ($/cwt) 1 (L5C) 1 30.60 2 (M5C) 500 28.15 3 (M1M) 1,000 22.03 4 (M2M) 2,000 18.05 5 (M5M) 5,000 14.21 6 (M10M) 10,000 11.85 7 (M20M) 20,000 6.90 8 (M30M) 30,000 5.31 9 (M40M) 40,000 4.87 Minimum charge = $83.24. TABLE 4.10 Rate Tariff for Exercise 4.6 Weight Group Minimum Weight (lb) Freight Rate ($/cwt) 1 (L5C) 1 30.60 2 (M5C) 500 28.15 3 (M1M) 1,000 22.03 4 (M2M) 2,000 18.05 5 (M5M) 5,000 14.21 6 (M10M) 10,000 11.85 7 (M20M) 20,000 6.90 8 (M30M) 30,000 5.31 9 (M40M) 40,000 4.87 Minimum charge = $83.24. by Kay and Warsing (2009). What are the actual and estimated effective rates for an 8500-lb shipment on the Cleveland-RTP lane?