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A Time Study Analyst Has Found the Select Time for a Work

question 106

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A time study analyst has found the select time for a work element to be 14.0 minutes, with a sample standard deviation of 3.2 minutes. What is the minimum sample size needed if the estimate is to be within 4 percent of the average 95 percent of the time (z = 1.96) ?


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Intervene

To come between disputing parties, events, or processes to alter a result or prevent certain actions.

Angel Investor

A wealthy individual who provides financial backing for small startups or entrepreneurs, often in exchange for ownership equity in the company.

Return

Refers to the income generated from an investment, including dividends, interest, or capital gains, expressed usually as a percentage.

Investment

The act of allocating resources, usually money, with the expectation of generating an income or profit.

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