Scenario 2.5
A job consists of three distinct work elements that were timed with a highly accurate Swiss watch by a trained industrial engineer. The engineer recorded ten observations and assigned the performance rating that is recorded in the bottom row of the table under the corresponding work element. All recorded times are in seconds.
-The allowance factor assigned is 20% for the data recorded. The rating factor for Element 1 is 10%, for Element 2 is 15%, and for Element 3 is 5%. What is the standard time for the three-element job?
Definitions:
Goods And Services
Goods are tangible items that satisfy human wants and needs, while services are intangible activities or benefits that one party can offer to another.
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