A business analyst wants to validate a standard time for an existing process of a work operation. A previous study conducted have the following information: Standard Deviation - 30 seconds; Average time – 300 seconds With the desired confidence level of 90% and maximum error of 5%, how many observations should the business analyst conduct? Note: Round-up your answer to whole number. Confidence Level Standard Deviation 80% 1.282 90% 1.645 95% 1.960 99% 2.576
A business analyst wants to validate a standard time for an existing process of a work operation. A previous study conducted have the following information: Standard Deviation - 30 seconds; Average time – 300 seconds With the desired confidence level of 90% and maximum error of 5%, how many observations should the business analyst conduct? Note: Round-up your answer to whole number. Confidence Level Standard Deviation 80% 1.282 90% 1.645 95% 1.960 99% 2.576
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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- A business analyst wants to validate a standard time for an existing process of a work operation. A previous study conducted have the following information:
Standard Deviation - 30 seconds; Average time – 300 seconds
With the desired confidence level of 90% and maximum error of 5%, how many observations should the business analyst conduct?
Note: Round-up your answer to whole number.
Confidence Level |
Standard Deviation |
80% |
1.282 |
90% |
1.645 |
95% |
1.960 |
99% |
2.576 |
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