An Operation in a Television Factory Has an Average Observed

question 97

Essay

An operation in a television factory has an average observed time of 8 minutes. The performance rating of the worker timed was estimated at 95%. Practice in this department is to provide 7% for allowances.
(a) Find the normal time for the operation.
(b) Compute the standard time for the operation.
(c) Recompute the standard time if an additional fatigue allowance of 8% is factored in.

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Definitions:

National Debt

The total amount of money that a country's government has borrowed by issuing securities, mostly through the sale of bonds.

Interest Rates

The cost of borrowing money, often expressed as a percentage of the amount borrowed.

National Debt

The complete figure representing the debt a national government holds from borrowing, which is still outstanding.

Recessionary Gap

The difference between the actual level of GDP and the potential GDP that could be produced if all resources were fully employed, indicating an economy is not reaching its full output potential.