If Historical Experience Data Are So Widely Available and So

question 312

Essay

If historical experience data are so widely available and so easy to obtain, why aren't they more widely used to set labor standards?

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Definitions:

Precise

Referring to the closeness of two or more measurements to each other, showing little variance when repeated.

Accuracy

How closely a measurement, calculation, or specification aligns with the true value or an established standard.

Significant Figures

The number of digits in a measurement that are known with a certain degree of reliability, used to express the precision of the measurement.