Suppose That a Time Study Analyst Takes a Sample of Size

question 117

Essay

Suppose that a time study analyst takes a sample of size 60 observations.The process mean is 100 seconds,and the standard deviation is 3 seconds.If the max error can be no more than ± 1 second,how confident can the analyst be in the results?

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Definitions:

Risk Premium

The extra return demanded by investors for holding a riskier asset compared to a risk-free investment.

Compensation

Payment or rewards given to employees or workers for their services, which can include wages, salaries, benefits, and bonuses.

Money Managers

Professionals who make investment decisions and manage the portfolio of securities for their clients.

Alpha

A measure of the active return on an investment, indicating how much a portfolio has outperformed or underperformed its benchmark index.