A Time Study of a Certain Service Task Found an Average

question 310

Essay

A time study of a certain service task found an average time of 15 minutes, with a standard deviation of 3 minutes. These figures were based on a sample of 100 measurements. Is the sample large enough that we are 95% confident that standard time is within ±5% of its true value?

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Definitions:

Special Order

An order for goods or services that is made to a customer's specific requirements and specifications.

Receive Payments Window

The Receive Payments Window is a feature in accounting software where businesses record the collection of money from customers against their outstanding invoices.

Checking Account

A bank account that allows for both deposits and withdrawals, often used by individuals and businesses for day-to-day transactions.

Accounts Receivable

Money owed to a company by its customers or clients for goods or services delivered or used but not yet paid for.