A time study has revealed an average observed timeof 5 minutes, with a standard deviation of 1.25 minu tes. Thesefigures are based on a sample of 75 cycles. Is this sample largeenough for analyst Anand Paul to be 99.73% confident that thestandard time is within 5% of the true value?
A time study has revealed an average observed timeof 5 minutes, with a standard deviation of 1.25 minu tes. Thesefigures are based on a sample of 75 cycles. Is this sample largeenough for analyst Anand Paul to be 99.73% confident that thestandard time is within 5% of the true value?
Management, Loose-Leaf Version
13th Edition
ISBN:9781305969308
Author:Richard L. Daft
Publisher:Richard L. Daft
Chapter10: Designing Organization Structure
Section: Chapter Questions
Problem 2ED
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A time study has revealed an average observed time of 5 minutes, with a standard deviation of 1.25 minu tes. These figures are based on a sample of 75 cycles. Is this sample large enough for analyst Anand Paul to be 99.73% confident that the standard time is within 5% of the true value? |
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