Given the Following Work Sampling Data, Based Upon 100 Random

question 9

Short Answer

Given the following work sampling data, based upon 100 random observations of a particular worker: $$\begin{array} { l c } \text { Activity } & \text { Times Observed } \\\hline \text { A } & 20 \\\text { B } & 50 \\\text { C } & 10 \\\text { Others } & 20\end{array}$$ What is the estimated proportion of time this worker spends on activities B and C?

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Definitions:

Lock Box System

A banking service provided to companies for speeding up collection of payments by having those payments sent directly to a bank's PO box, rather than to the company.

Clearing Time

The period between the initiation of a transaction and its settlement, during which the transaction is processed and validated.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term liquidity and operational efficiency of the business.

Working Capital

The difference between a company's current assets and current liabilities, indicating the short-term financial health and operational efficiency of a business.