If a Manager Conducting a Time Study Needed an Accuracy

question 119

True/False

If a manager conducting a time study needed an accuracy of ±0.1 minutes, rather than ±0.2 minutes, the adequate sample size would have to be twice as large.

---

Definitions:

Doggerel

A term unrelated to economics, referring to irregularly or poorly constructed verse, often of a humorous or trivial nature.

Paasche Price Index

An economic indicator that measures the change over time in the cost of a fixed basket of consumer goods and services, using the current period as the base.

Doggerel

Verse or words that are poorly written or expressed, often characterized by clichés, sloppy meter, and a lack of seriousness or artistic depth.

Revealed Preference

A theory in economics that assumes individuals' preferences can be discerned by observing their purchasing habits and behaviors.