Problem 7-12 (Algo) How many work cycles should be timed to estimate the average cycle time to within 1 percent of the sample mean with a confidence of 95.0 percent if a pilot study yielded these times (minutes): 4.1, 4.6, 5.1, 4.9, 5.9, and 4.4? The standard deviation is 0.631 minutes per cycle. (Use the "mean time" value to 2 decimal places and other values to 3 decimal places for intermediate calculations. Round up your final answer to the next whole number.) Number of work cycles

Problem 7-12 (Algo) How many work cycles should be timed to estimate the average cycle time to within 1 percent of the sample mean with a confidence of 95.0 percent if a pilot study yielded these times (minutes): 4.1, 4.6, 5.1, 4.9, 5.9, and 4.4? The standard deviation is 0.631 minutes per cycle. (Use the "mean time" value to 2 decimal places and other values to 3 decimal places for intermediate calculations. Round up your final answer to the next whole number.) Number of work cycles

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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