Examlex
Which of the following is an example of a microeconomic decision?
Time Standard
A benchmark or reference point for the expected time required to complete a task, often used in manufacturing and productivity analysis.
Work Sampling
A statistical technique used to estimate the proportion of time spent by workers on various tasks, through random observations over a period.
Acceptable Error
The degree of deviation from a standard or accurate value that is considered tolerable or permissible in computations or measurements.
Sample Proportion
The fraction of a sample that exhibits a particular attribute or characteristic.
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