A Methods and Measurements Analyst for Timepiece, Inc $$\begin{array} { l r r r r r } \text { Observation } & 1 & 2 & 3 & 4 & 5 \\\hline \text { Time (seconds) } & 27 & 19 & 20 & 21 & 13\end{array}$$

question 135

Multiple Choice

A methods and measurements analyst for Timepiece, Inc., needs to develop a time standard for the task of attaching a watch to a wristband. In a preliminary study, he observed one of his workers perform this task five times, with the following results: $$\begin{array} { l r r r r r } \text { Observation } & 1 & 2 & 3 & 4 & 5 \\\hline \text { Time (seconds) } & 27 & 19 & 20 & 21 & 13\end{array}$$ What is the standard time for this task if the employee worked at a 20 percent faster pace than average, and an allowance of 20 percent of the workday is used?

• A) 20 seconds
• B) 24 seconds
• C) 25 seconds
• D) 28.8 seconds
• E) 30 seconds

Understand how the production function influences cost curves and the significance of marginal product.

Understand the principle of diminishing marginal product and its effect on total output.

Comprehend the relationship between various cost measures such as total cost, average total cost, marginal cost, fixed cost, and variable cost.

Identify and interpret the graphical representation of production functions and cost curves.

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