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Category > Management Posted 18 Jan 2018 My Price 7.00

number of observations

The following data were obtained by observing a three-step job of a financial managerA????1s assistant.

  OBSERVATIONS ( minutes per cycle)
Element Performance Rating 1    2 3 4 5
A 90% 1.40 1.42 1.39 1.38 1.41
B 120% 2.10 2.05 2.00 1.85 1.80
C 110% 1.60 1.40 1.50 1.45 1.55


(i). Using the data and an allowance of 10 percent of job time, determine a standard time for the operation.

(ii). Determine the number of observations that would be required to estimate the mean time for the first element within 4 percent of the true value with a confidence of 98 percent.

(iii). How many observations would be needed to estimate the mean time for element C to within 0.10 minutes of its actual value with a confidence of 90 percent?

Please show all work so the process can be understood.

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Maurice Tutor
(5)
Status NEW Posted 18 Jan 2018 10:01 PM My Price 7.00

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