For a Time Study, the Three Factors That Determine How

question 116

Multiple Choice

For a time study, the three factors that determine how large a sample size to take are

• A) the level of confidence, the z-value, and normal time
• B) needed accuracy, desired confidence, and standard deviation of the initial sample
• C) the level of confidence, the z-value, and the work sampling idle percent
• D) actual time, normal time, and standard time
• E) actual time, standard time, and mean time

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Definitions:

Voluntary Labor

Work undertaken by choice or without financial compensation; often in the context of volunteerism or unpaid internships.

Management Practices

The actions, strategies, and methods employed by managers to achieve organizational objectives and improve performance.

Competitive Pricing

A pricing strategy where a company sets the price of its products or services based on the prices of competitors.

Sustainable Competitive Advantage

A unique advantage that allows an organization to outperform its competitors over a long period.