How Many Cycles Should Be Used in a Time Study

question 18

Multiple Choice

How many cycles should be used in a time study in order to be 95% confident that the time-study average job cycle time is within 5% of the true average job cycle time? Assume that the average job cycle time is 2.67 minutes,and the standard deviation of the sample is 0.72 minutes.

• A)36 cycles
• B)72 cycles
• C)98 cycles
• D)112 cycles

Understand the fundamental approaches to evaluating HRM practices: fit and best practice.

Recognize the components of the 5C model of HRM impact and their significance.

Distinguish between different types of HRM measures, including activity-based measures and balanced scorecard.

Grasp the role of workforce analytics in HRM and decision-making.

---

Definitions:

Utility

A measure of satisfaction or happiness that consumers receive from consuming goods and services.

Prisoner's Dilemma

A fundamental problem in game theory demonstrating that two people might not cooperate even if it is in both their best interests to do so.

Nash Equilibrium

An idea in game theory where a player cannot benefit by altering their strategy alone while the strategies of other players stay the same.

Nash Equilibrium

A concept in game theory where no player can benefit by changing strategies if the other players keep theirs unchanged.