A Time Study Was Conducted to Determine the Length of Time

question 18

Multiple Choice

A time study was conducted to determine the length of time required to perform a task in a manufacturing process. The times required by approximately two-thirds of the workers in the study satisfied the inequality $$\left| \frac { t - 15.6 } { 1.6 } \right| \leq 1$$ where t is the time in minutes. What are the maximum and minimum times? Round your answer to one decimal place.

• A)minimum time is \(14\) minutes, maximum time is \(15.6\) minutes
• B)minimum time is \(14\) minutes, maximum time is \(17.2\) minutes
• C)minimum time is \(14\) minutes, maximum time is \(17.9\) minutes
• D)minimum time is \(15.6\) minutes, maximum time is \(17.2\) minutes
• E)minimum time is \(13.5\) minutes, maximum time is \(17.2\) minutes

Discuss the concept of limited problem solving in consumer decision making.

Illustrate how consumers reconcile the rational and experiential aspects of decision making.

Understand the concepts of maximizing and satisficing in decision-making processes.

Comprehend the key elements of prospect theory, especially regarding gains, losses, and risk preferences.

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Definitions:

Tax

A compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Area

A measure of the extent of a two-dimensional surface or shape, or the amount of space inside the boundary of a flat (2D) object.

Per-unit Burden

The cost or tax levied on each unit of a good or service.

Sellers

Individuals, companies, or entities that offer goods or services for sale in the market.