Suppose that a time study analyst takes a sample of size 60 observations. The process mean is 100 seconds, and the standard deviation is 3 seconds. If the max error can be no more than ± 1 second, how confident can the analyst be in the results?
What will be an ideal response?
Apply equation n = (zs/e)2 to find z: 60 = [(z)(3 ) / 1]2, or 7.746 = 3z, or z = 2.582
From Table 10.2, the confidence is 99.0%.
You might also like to view...
Which of the following statements is true of a qualified indorsement?
A. It does not change the negotiable nature of the instrument. B. It specifies the purpose of the indorsement or specifies the use to be made of the instrument. C. It does not eliminate the contractual liability of the indorser. D. It contains the signature of the indorser along with the words indicating to whom, or to whose order, the instrument is payable.
______ can help solidify the development of network ties.
a. Quid pro quo b. Coercion c. Intellectual stimulation d. Punishment
Which of the following is true of express warranties?
A) A manufacturer is liable for express warranties made by wholesalers. B) A retailer is liable for the express warranties made by manufacturers of goods it sells. C) A retailer is not allowed to make warranties on manufacturer goods. D) A manufacturer is obligated by law to make an express warranty on all its goods.
When the U.S. Supreme Court decides to hear a case, it issues a __________ ordering the lower court to certify the record of proceedings below and send it to the Supreme Court
a. commandment b. writ of order c. writ of certiorari d. writ of expo facto