Steinwand Corporation Keeps Careful Track of the Time Required to Fill

question 92

Multiple Choice

Steinwand Corporation keeps careful track of the time required to fill orders.Data concerning a particular order appear below:
$$\begin{array} { | l | c | } \hline & \text { Hours } \\\hline \text { Processing Time } & 1.9 \\\hline \text { Inspection Time } & 0.2 \\\hline \text { Moving Time } & 2.8 \\\hline \text { Storing Time } & 7.2 \\\hline\end{array}$$ The manufacturing cycle efficiency (MCE) was closest to:

• A) 0.24.
• B) 0.16.
• C) 0.92.
• D) 0.08.

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Definitions:

Statistical Technique

A method used in the analysis of numerical data and the interpretation of statistical results.

Factor Analysis

A statistical strategy for identifying key variables, or factors, that elucidate the correlation patterns observed within a set of variables.

Statistical Technique

A method used in the collection, analysis, interpretation, or presentation of data.

Continuously Compounded Interest

Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.