An Industrial Engineer Is Conducting a Time Study for a Work

question 66

Multiple Choice

An industrial engineer is conducting a time study for a work element.The select time is 4.5 minutes,and the sample standard deviation of the observed time is 20 seconds.What is the appropriate sample size if the estimate is to be 5 percent of the true average time 95 percent of the time?

• A) Fewer than or equal to seven
• B) Greater than seven but fewer than or equal to eight
• C) Greater than eight but fewer than or equal to nine
• D) Greater than nine

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Definitions:

Disposable Income

The residual financial resources for households to use in saving and spending post paying income taxes.

Savings Rate

The Savings Rate is the percentage of income that is not spent on consumption but instead saved for future expenses, investments, or emergencies.

Social Security

A government program that provides financial assistance to people with inadequate or no income, especially the elderly and disabled.

Savings Rate

The portion of disposable income that is not spent on consumption, but is saved or invested.