For a Particular Time Study a Company Would Like to Be

question 11

Multiple Choice

For a particular time study a company would like to be 90% confident that the average job cycle time is within 5% of the true average job cycle time. Assume that the average job cycle time is 15.76 minutes and the standard deviation of the sample is 3.2 minutes. The number of cycles that should be used in this time study would be

• A) 45.
• B) 93.
• C) 127.
• D) 236.

---

Definitions:

Basic Assumptions

Foundational beliefs or principles that are accepted as true without proof, forming the basis of further argument or reasoning.

Indifference Curve

A graph showing different combinations of two goods that provide equal satisfaction and utility to a consumer.

Marginal Rates of Substitution

The speed at which a buyer is prepared to sacrifice one item for another while keeping their satisfaction constant.

Bads

Are items that people do not desire to have, opposite to goods, which have a negative impact on utility when consumed.