The bottleneck resource of a production line has an average rate of 6 jobs per hour. The CV of process time is 0.5.

1. What is the standard deviation of the process time? Use minutes.

2. The variability of the station is causing long wait times. A variability reduction effort is proposed. For a reduction in standard deviation of minutes, the cost is estimated to be 1250^1.1 dollars. What is the estimated cost of reducing the CV to 0.3?