A time study was conducted on a job that contains four elements. The observed times and performance ratings for six cycles are shown in the following table. OBSERVATIONS (minutes per cycle) Element Performance Rating 1 2 3 4 5 6 1 85 % 0.48 0.53 0.43 0.43 0.43 0.43 2 80 1.48 1.48 1.43 1.43 1.43 1.48 3 105 0.83 0.83 0.73 0.78 0.83 0.78 4 90 1.08 1.13 1.08 1.13 1.13 1.18 Click here for the Excel Data File Hint: the performance ratings given in this question and the Excel spreadsheet link are in percentages. It is necessary to convert them to their