EBK OM
6th Edition
ISBN: 9781305888210
Author: Collier
Publisher: YUZU
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Chapter 4, Problem 12PA
Summary Introduction
Interpretation:The appropriate decision needs to be made on the basis of optimistic and conservative approach.
Concept Introduction: Major approaches used for decision making are maximax (optimistic) and minimax (conservative) if the decision probabilities are not given.
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I only need help with part C. Please and thank you :)
ANSWERED: Gracie recorded the following times assembling a watch.
Performance rating given is 95%.
A) Average time of Gracie for the Operation? (round to three decimal places) ANSWER=0.107
B) normal time for this operation? (round to three decimal places) ANSWER=0.102
C) HELP PLEASE. "For a given personal allowance of 8% the standard time for the operation is how many minutes?" (round your answer to three decimal places)
Gracie recorded the following times assembling a watch.
Performance rating given is 95%.
Average time of Gracie for the Operation? (round to three decimal places)
normal time for this operation? (round to three decimal places)
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