The Accuracy of a Labor Standard Is to Be Within

question 233

Multiple Choice

The accuracy of a labor standard is to be within ± 5%, and the confidence level is 95%. The standard deviation of the sample is 2 and the mean is 9.5. What sample size should be used?

• A) 8
• B) 10
• C) 96
• D) 127
• E) 68

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Definitions:

JIT Systems

Just-In-Time Systems refer to a strategy to increase efficiency and decrease waste by receiving goods only as they are needed in the production process.

Inventory

The quantity of goods or materials that a business holds for the purpose of resale or production.