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3. Arkisha Manufacturing Co. of Bulacan, Philippines, has just observed a job in its laboratory in anticipation of releasing the job to the factory for production. The firm wants rather good accuracy for costing and labor forecasting. Specifically, it wants to provide a 99% confidence level and a cycle time that is within 3% of the true value. How many observations should it make? The data collected so far are as follows: OBSERVATION TIME 1 2 3 1.7 1.6 1.4 4 1.4 1.4

3. Arkisha Manufacturing Co. of Bulacan, Philippines, has just observed a job in its laboratory in anticipation of releasing the job to the factory for production. The firm wants rather good accuracy for costing and labor forecasting. Specifically, it wants to provide a 99% confidence level and a cycle time that is within 3% of the true value. How many observations should it make? The data collected so far are as follows: OBSERVATION TIME 1 2 3 1.7 1.6 1.4 4 1.4 1.4

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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3. Arkisha Manufacturing Co. of Bulacan, Philippines, has just observed a job in its laboratory in anticipation of releasing the job to the factory for production. The firm wants rather good accuracy for costing and labor forecasting. Specifically, it wants to provide a 99% confidence level and a cycle time that is within 3% of the true value. How many observations should it make? The data collected so far are as follows: OBSERVATION TIME 1 1.7 2 1.6 3 1.4 4 1.4 1.4
Transcribed Image Text:3. Arkisha Manufacturing Co. of Bulacan, Philippines, has just observed a job in its laboratory in anticipation of releasing the job to the factory for production. The firm wants rather good accuracy for costing and labor forecasting. Specifically, it wants to provide a 99% confidence level and a cycle time that is within 3% of the true value. How many observations should it make? The data collected so far are as follows: OBSERVATION TIME 1 1.7 2 1.6 3 1.4 4 1.4 1.4
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