Given the Following Work Sampling Data, Based Upon 100 Random

question 2

Short Answer

Given the following work sampling data, based upon 100 random observations of a particular worker: $$\begin{array} { l c } \text { Activity } & \text { Times Observed } \\\hline \text { A } & 20 \\\text { B } & 50 \\\text { C } & 10 \\\text { Others } & 20\end{array}$$ For a confidence level of 95.44 percent and a maximum error of .04, what should be the sample size for estimating the proportion of time spent performing activity A?

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Definitions:

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period, indicating the efficiency of inventory management and sales performance.

Cost of Goods Sold

The direct costs attributable to the production of the goods sold by a company, including materials and labor costs.

Period

A length of time in financial reporting, often quarterly or annually, used to evaluate business performance.

Cost of Goods Manufactured

The total cost incurred by a company to produce goods in a specific period, including labor, material, and overhead costs.