Examlex
An assembly line consists of 158 tasks grouped into 32 workstations. The sum of all task times is 105 minutes. The largest assigned cycle time is 4 minutes. The efficiency of this line is approximately
Population Parameter
A Population Parameter is a value that represents a characteristic of an entire population, such as its mean or standard deviation.
Sample Statistic
A numerical measure calculated from a set of data extracted from a larger population, used to estimate population parameters.
Population Parameter
A numerical value that represents a characteristic of a population, such as the population mean or variance.
Expected Value
The mean of all possible values for a random variable, weighted by their respective probabilities.
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