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4- For a time study of a health insurance claims-adjusting process, the analyst recorded the times. The job is divided into four work elements, as shown in table. What is the appropriate sample size for estimating the time for element 2 within 7 percent of the true mean with 95 percent confidence? Work Element 1 2 3 4 5 Rating 1. Check from completion and signatures 2. Enter claim amounts, check math 3. Determine proportion of claim Element 0.50 0.55 0.45 0.65 0.50 1.1 Time Element 0.70 1.80 0.70 0.95 0.75 1.2 Time Element 1.45 1.30 1.25 1.65 1.40 1.2 to be disallowed Time 4. Generate form letter, enter data Element 2.75 2.50 2.25 1.75 2.70 0.9 for check Time

4- For a time study of a health insurance claims-adjusting process, the analyst recorded the times. The job is divided into four work elements, as shown in table. What is the appropriate sample size for estimating the time for element 2 within 7 percent of the true mean with 95 percent confidence? Work Element 1 2 3 4 5 Rating 1. Check from completion and signatures 2. Enter claim amounts, check math 3. Determine proportion of claim Element 0.50 0.55 0.45 0.65 0.50 1.1 Time Element 0.70 1.80 0.70 0.95 0.75 1.2 Time Element 1.45 1.30 1.25 1.65 1.40 1.2 to be disallowed Time 4. Generate form letter, enter data Element 2.75 2.50 2.25 1.75 2.70 0.9 for check Time

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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4 - For a time study of a health insurance claims-adjusting process, the analyst recorded the times. The job is divided into four work elements, as shown in table. What is the appropriate sample size for estimating the time for element 2 within 7 percent of the true mean with 95 percent confidence? Work Element 1 3 4 5 Rating 1. Check from completion and Element 0.50 0.55 0.45 0.65 0.50 1.1 signatures Time 2. Enter claim amounts, check Element 0.70 1.80 0.70 0.95 0.75 1.2 math Time 3. Determine proportion of claim to be disallowed Element 1.45 1.30 1.25 1.65 1.40 1.2 Time 4. Generate form letter, enter data Element 2.75 2.50 2.25 1.75 2.70 0.9 for check Time a) 19 b) 16 c) 23 d) 21 e) 28
Transcribed Image Text:4 - For a time study of a health insurance claims-adjusting process, the analyst recorded the times. The job is divided into four work elements, as shown in table. What is the appropriate sample size for estimating the time for element 2 within 7 percent of the true mean with 95 percent confidence? Work Element 1 3 4 5 Rating 1. Check from completion and Element 0.50 0.55 0.45 0.65 0.50 1.1 signatures Time 2. Enter claim amounts, check Element 0.70 1.80 0.70 0.95 0.75 1.2 math Time 3. Determine proportion of claim to be disallowed Element 1.45 1.30 1.25 1.65 1.40 1.2 Time 4. Generate form letter, enter data Element 2.75 2.50 2.25 1.75 2.70 0.9 for check Time a) 19 b) 16 c) 23 d) 21 e) 28
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