The following data were obtained by observing a three- step job of a financial managers assistant. a.
Question:
The following data were obtained by observing a three- step job of a financial manager’s assistant.
a. Using the data and an allowance of 10 percent of job time, determine a standard time for the operation.
b. 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.
c. 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 90percent?
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Given An analyst observed a financial managersassistant perform a job with three elements and observed five cycles for eachelement The analyst recorded the times and the performance ratings for each e...View the full answer
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