5. An analyst has observed a job long enough to become familiar with it and has divided it into four elements. The element times for the first five cycles are shown in the following table with a performance rating for each element.

a. Compute an estimated normal time for the job based on the data available at this stage of the study.

b. On the basis of the data available, what size sample should be taken to estimate the time for element 1 within 5 percent of the true mean time with 95 percent confidence?

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PERFORMANCE ELEMENT CYCLE I CYCLE 2 CYCLE 3 CYCLE 4 CYCLE 5 RATING (PERCENT) 1234 1.51 1.63 1.48 1.55 1.72 110 2.46 2.34 2.33 2.36 2.30 95 1.79 3.02 1.84 1.78 1.77 90 1.25 1.11 1.40 1.15 1.29 115