An estimate of the time required to perform certain job

Assignment Help Business Economics

Reference no: EM13974890

An estimate of the time required to perform a certain job is needed. The study yielded a mean of 6.4 minutes and a standard deviation of 2.1 minutes. The desired confidence is 0.95. How many observations will be needed if the desired maximum error is:

a. +or – 10% of the sample mean

b. ½ minute

Reference no: EM13974890

Questions Cloud

What is the speed of a point on the outer edge of the wheel : A grinding wheel (r=7.6) is rotating at 1750 rpm. what is the speed of a point on the outer edge of the wheel?

Statistics from outcome of random sample : A random sample of 1,000 departures is to be used to estimate the parametere and the expected number of minutes past the scheduled departure time that a jet will leave the terminal. Summary statistics from the outcome of the random sample inc..

What is the quantum mechanical probability of the electron : In terms of a0 and C, what is the quantum mechanical probability of the electron in a hydrogen atom being in this small volume, assuming that the nucleus is at the origin and the atom is in its ground state?

By how much more does the money supply increase : Using a required reserve ratio of 10% and assuming that banks keep no excess reserves, imagine that $300 is deposited into a checking account. By how much more does the money supply increase if the Fed lowers the required reserve ratio to 7%?

An estimate of the time required to perform certain job : An estimate of the time required to perform a certain job is needed. The study yielded a mean of 6.4 minutes and a standard deviation of 2.1 minutes. The desired confidence is 0.95. How many observations will be needed if the desired maximum error is..

Which the money supply can increase as result of your action : Suppose that you take $150 in currency out of your pocket and deposit it in your checking account. Assuming a required reserve ratio of 10%, what is the largest amount (in dollars) by which the money supply can increase as a result of your action?

Least-squares estimator of the proportionality : Derive the functional form of the least-squares estimator of the proportionality factor, /3. Is the Use the estimator you derived in (b) to generate an estimate of /3.

Differences between inpatient and outpatient hospital : What are the major differences between inpatient and outpatient hospital services? Describe and provide examples of how these differences affect the coding process

What is tipping theory : Tipping theory, though not new, is in the news lately, in reference to our "recession" (some say "depression"), and how we can get ourselves out of it, whatever we call it. What is tipping theory? If you've never heard of it, you may research the top..

User Account

All Pages