Scenario 2.3 A Job Consists of Three Elements. Twenty Observations for Each

question 238

Multiple Choice

Scenario 2.3
A job consists of three elements. Twenty observations for each element were timed, and the resulting data are shown in the following table. A performance rating has also been assigned for each element, as shown in the table. The job has an allowance of 15% of normal time.

-Use the information in Scenario 2.3. What is the normal time for the entire job?

• A) greater than or equal to 10.0 minutes
• B) less than 10.0 minutes but greater than or equal to 8.5 minutes
• C) less than 8.5 minutes but greater than or equal to 7.0 minutes
• D) less than 7.0 minutes

---

Definitions:

Three-Party Instrument

A financial document or contract involving three parties, where one party is typically promised payment by another, with the third acting as a guarantor or intermediary.

Payment Fund

A reserve of money that is set aside to cover future payments, debts, or expenses.

Fixed Amount

A precise sum or quantity that does not change or vary.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.