Solved
Help, what formula to use for percentage...
Posted on 2016-10-27
I am unsure the best way to figure this out and would be most grateful for any assistance.
I have a logistics company and im needing the answer below is my example
We are contracted with several thousand truckload carriers to haul full truckload freight for us.
Moved 20 truckloads within 10 days
Using 15 different carrier companies
From Atlanta Ga to columbus oh
The average we paid $700
Lowest we paid a carrier $600
Highest $800
Our software tool doesnt give us a confidence meter of sort( what is the percentage that we will find carriers in the next 15 days to do at leaat around what we paid on average the last 15 days $700? The problem is we can run our past costs and determine from that data what we believe we're going to pay but it would be nice to have a percentage relating to our chances that will be successful using our average pay and still getting carriers ar the average cost. Make Sense?
I figured since we had used several different carriers and all happy with the average it bettered our chances the rate would work easier than if someone moved 20 loads and hired only 3 different carriers (in our industry that shows the average rate wasnt enough because only 3 different carriers used when most prefer several different carriers be used)
please let me know what additional information i can give.
and the average we paid a carrier