10. The data in the following table represent time study observations for a woodworking operation. a. Based on the observations, determine the standard time for the operation, assuming an allow- ance of 15 percent of job time. b. How many observations would be needed to estimate the mean time for element 2 within 1 per- cent of its true value with a 95.5 percent confidence? c. How many observations would be needed to estimate the mean time for element 2 within .01 minute of its true value with a 95.5 percent confidence? OBSERVATIONS (minutes per cycle) Performance Element Rating 1 3 4 110% 1.20 1.17 1.16 1.22 1.24 1.15 1 0.83 0.87 0.78 0.82 0.85 1.32 2 115 105 0.58 0.53 0.52 0.59 0.60 0.54 "Unusual delay, disregard time.

10. The data in the following table represent time study observations for a woodworking operation. a. Based on the observations, determine the standard time for the operation, assuming an allow- ance of 15 percent of job time. b. How many observations would be needed to estimate the mean time for element 2 within 1 per- cent of its true value with a 95.5 percent confidence? c. How many observations would be needed to estimate the mean time for element 2 within .01 minute of its true value with a 95.5 percent confidence? OBSERVATIONS (minutes per cycle) Performance Element Rating 1 3 4 110% 1.20 1.17 1.16 1.22 1.24 1.15 1 0.83 0.87 0.78 0.82 0.85 1.32 2 115 105 0.58 0.53 0.52 0.59 0.60 0.54 "Unusual delay, disregard time.

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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