An Existing Insurance Application Process Requires Manual Keying of Three

question 114

Essay

An existing insurance application process requires manual keying of three different forms by a team of data entry operators.The three forms' input times appear in the following table along with the numbers of each type of form anticipated for the coming year.A proposed refinement in the process would reduce the number of forms but make each slightly longer.This would be combined with a search of public records on the World Wide Web as necessary.These times and quantities appear in the lower half of the table.If the labor rate for the data entry operators is the same,which method is preferable?

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Definitions:

Bailments

A legal relationship where personal property is transferred from one party to another under agreement that the property will be returned or otherwise dealt with according to the owner's directions.

Express

Directly stated, explicit, or clearly defined.

Implied

Not explicitly stated but understood from the circumstances or context of an agreement or action.

Implied Bailment

A bailment formed without explicit agreement, inferred from the actions or circumstances of the parties involved.