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To determine the standard working time for a special job, following observation data is collected. Observation 1 2 3 4 5 6 7 8 Time (in second) 17 18 15 14 13 15 16 13 a) If the person observed worked at a pace that is 80 percent of normal, and if the appropriate allowance for this task is 25 percent of job time, what should be the standard time? b) How many observations would be needed to be 95% confident that the maximum error in the observed time is 1 second? Assume that the standard deviation of the task time is 2 seconds. c) How many observations would be needed to be 99 % confident that the maximum error is 5% of the observed time? Assume that the standard deviation of the task time is 2 seconds. What are the formulas to solving these problems? Thanks
The Norwitch Company uses a continuous review (s, Q) system for inventory control. Weekly demand for an item, Pressure Valve #5 (PV5), is distributed Normally with a mean and stan
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Shipping charges of $0.50 per pair on all pairs shipped to distribution centers in the same region as the production plant and $1.00 on all pairs shipped from one region to another
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