A Methods and Measurements Analyst Needs to Develop a Time

question 32

Essay

A Methods and Measurements Analyst needs to develop a time standard for a certain task.The task involves use of a ruler,square,and portable electric saw to mark and cut the "notch" in a rafter (a standard carpentry task of home construction).In a preliminary study,he observed one of his workers performing this task five times.The observations were made in an air-conditioned,well-lit training facility,at ground level,with all tools and equipment clean and readily available.
a.What is the actual average time for this task?
b.What is the normal time for this task if the employee worked at a 20% faster pace than is typical for adequately trained workers?
c.What is standard time for this task if allowances sum to 14%?
d.If the analyst then thought more carefully about his experiment and decided that the allowances needed to be increased to match the real (outside,not air-conditioned)work environment,and that the proper allowance was not 14% but 20%,what is the revised standard time?

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Definitions:

Market Rate

The prevailing rate at which a specific asset can be bought or sold in the marketplace, often influenced by supply and demand.

Simple Interest

Interest charged exclusively on the principal sum, or on the part of the principal that has not been paid yet.

Investment Builder

A financial tool or account that aids individuals in growing their savings through various types of investments.

Term Deposit

A fixed-term investment held at a financial institution that pays interest until a specified maturity date.