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A Methods and Measurement Analyst Wants to Develop a Time

question 89

Multiple Choice

A Methods and Measurement Analyst wants to develop a time standard for a certain task.In a preliminary study,he observed one employee perform the task six times with an average of 20 seconds and a standard deviation of 2 seconds. How many observations should be made if he wants to be 95.44 percent confident that the maximum error in the observed time is one second?

Set pricing based on learning curves and cost-plus pricing strategies.

Understand the concept of a learning curve and its application in time and cost estimation.

Calculate the time taken for the first unit based on a given learning curve percentage and the time taken for a subsequent unit.

Analyze the impact of learning curves on production efficiency and time management.

Definitions:

Accounting Oversight Board

A regulatory organization that oversees the audits of public companies to protect the interests of investors and further the public interest in the preparation of informative, fair, and independent audit reports.

Civil and Criminal Penalties

Legal sanctions that can be imposed for violations of law, with civil penalties typically involving fines or damages and criminal penalties involving imprisonment or probation.

Predicate Act

A specific action or crime that forms part of a larger pattern of behavior, often used in reference to the activities constituting racketeering under RICO laws.

White-Collar Crime

Non-violent crime committed by professionals or businessmen, typically involving financial deception or fraud.