Problems
1. Given the following information, determine the sample size needed if the standard time estimate is to be within 5 percent of the true mean 97 percent of the time.
2. Using the information in Problem 1, determine the sample size needed if the standard time estimate is to be within 5 percent of the true mean 99 percent of the time.
3. Using the following information, determine the sample size needed if the standard time estimate is to be within 5 percent of the true mean 95 percent of the time.
4. Using the information in Problem 3, calculate the sample size needed if the standard time estimate is to be within 5 percent of the true mean 99 percent of the time. Calculate the percentage increase in sample size for the higher precision.
Use the following information from the Arkade Company for Problems 5–10.
5. Calculate the normal time for each of the work elements.
6. The Arkade Company has decided to use a 15 percent allowance factor based on job time. Calculate the standard time for each work element and for the total job.
7. Based on the standard time calculated in Problem 6, how many units should an employee operating at 100 percent of standard complete during an eight-hour ...
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