The mean time for element 2 within .01 minute

Assignment Help Operation Management
Reference no: EM13917427

The data in the table below represent time study observations for a woodworking operation.
a. Based on the observations, determine the standard time for the operation, assuming an allowance of 15 percent of job time.
b. How many observations would be needed to estimate the mean time for element 2 within 1 percent of its true value with a 95.5 percent confidence?
c. How many observations would be needed to estimate the mean time for element 2 within .01 minute of its true value with a 95.5 percentconfidence?

Reference no: EM13917427

Questions Cloud

The actual percentage of idle time to within 6 percent : What is the percentage of idle time?Given these results, how many observations would be needed to estimate the actual percentage of idle time to within 6 percent with a confidence of 90percent?
What is the estimated percentage of idle time : What is the estimated percentage of idle time? Based on the initial results, approximately how many observations would you require to estimate the actual percentage of idle time to within 5 percent with a confidence of 95 percent?
How many work cycles should be timed to estimate : How many work cycles should be timed to estimate the average cycle time to within 2 percent of the sample mean with a confidence of 99 percent if a pilot study yielded these times (minutes): 5.2, 5.5, 5.8, 5.3, 5.5, and 5.1? The standard deviation..
How many observations should a time study analyst plan : How many observations should a time study analyst plan for in an operation that has a standard deviation of 1.5 minutes per piece if the goal is to estimate the mean time per piece to within .4 minute with a confidence of 95.5 percent?
The mean time for element 2 within .01 minute : How many observations would be needed to estimate the mean time for element 2 within 1 percent of its true value with a 95.5 percent confidence? How many observations would be needed to estimate the mean time for element 2 within .01 minute of its..
Calculate the payback for products : . Assume a $250,000 investment and the following cash flows for two products. Year Product X Product Y 1 $ 90,000 $ 50,000 2 90,000 80,000 3 60,000 60,000 4 20,000 70,000 a. Calculate the payback for products X and Y.
How many observations would be needed to estimate : How many observations would be needed to estimate the mean time for element C to within 0.10 minutes of its actual value with a confidence of 90percent? The following data were obtained by observing a three step
What is expected value of each quarterly dividend payment : James River Corp has preferred stock outstanding that trades at $125. If the stock yields 8%, what is the expected value of each quarterly dividend payment?
What standard time is applicable for that operation : A time study analyst observed a job that is performed continuously and found an average time of 6.0 minutes per cycle for a worker she rated at 95 percent. What standard time is applicable for that operation?

Reviews

Write a Review

Operation Management Questions & Answers

  Limit the strategic choices of multinationals

List and discuss three ways that a trade union may limit the strategic choices of multinationals?

  List the nine major hazard classes as outlined by the u.s

List the nine major hazard classes as outlined by the U.S Department of Transportation (D.O.T.). Research a news article that covers one of the nine major hazard classes. Identify the hazard and explain how the hazard created the dangerous sit..

  Each product should be manufactured to maximize profits

Andrew McCarroll is trying to determine how many units each of two cordless telephones to produce each day. One of these is the standard model; the other one is the deluxe model. The profit per unit on the standard model is $40, on the deluxe model $..

  Product-price-place and promotion

Describe what Porsche's 4Ps (Product, Price, Place, and Promotion). Please explain Porsche's current situation of the organization in the market such as industry, market, and general environment analysis. What is the financial performance and conditi..

  What are the advantages and disadvantages of zaras methods

What are the advantages and disadvantages of Zara's methods? Would these methods work at a company like C&F? What advice would you give to Bill Smith?

  Thoughts about just-in-time materials management

Discuss your thoughts about just-in-time materials management, its value, shortcomings, and provide an example of where it may be implemented. Below is a brief discussion of JIT vs. MRP. Two approaches have had a major impact on inventory management:..

  How you understand this in relation to the aviation industry

It is important to remember that airline unions are craft unions. U.S. transportation policy can be grouped into two broad categories: development policy initiatives and regulatory policy initiatives. You should have a general understanding of the te..

  The initial investment needed for plant and equipment is

patricia zell a dollmaker from olney maryland is interested in the mass marketing and production of a ceramic doll of

  Knowledge and change management are major challenges

Knowledge and change management are major challenges to most organizations. Individual and organizational learning are very different concepts though they are reliant on each other

  How many cases of bags should the store order each time

How many cases of bags should the store order each time if we want to select the lowest total annual cost strategy (ordering cost plus holding cost plus material acquisition cost)?

  Explain how you could use project managemen methods

Explain how you could use project management methods studies in class to more effectively plan a project. Identify a project, either real or hypothetical, also discuss elucidate how you would apply project management methods to plan which project ..

  What are the main challenges whiich the company is facing

background and history of truth resourcesintroductiontruth resources l.l.c. is a small company doing big things based

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd