During a Time Study,the Following Times Were Observed for a Particular

question 67

Multiple Choice

During a time study,the following times were observed for a particular job using the continuous (non-snapback) method: 22,51,72,98,128,and 150 seconds.There is only one element per cycle.The sample standard deviation of the observed times has already been computed as 3.9 seconds.If an estimate for the average time that is within 4 percent of the true long-range average 95 percent (z = 1.96) of the time is desired,how many additional observations are needed?

• A)fewer than or equal to 40
• B)greater than 40 but fewer than or equal to 55
• C)greater than 55 but fewer than or equal to 70
• D)greater than 70

---

Definitions:

International Trade

The exchange of goods, services, and capital between countries and territories, influencing global economic activity.

Adverse Selection

A situation where sellers have information that buyers do not, or vice versa, leading to transactions that benefit the more informed party.

Death Spiral

A term often used in insurance and pricing strategies to describe a situation where pricing adjustments lead to reduced participation or purchase, necessitating further price increases, and thus accelerating a decline in demand or viability.

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured as a part of a health care system.