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There are four estimates made for the anticipated cycle time to produce a subcomponent. The estimates, in seconds, are 10, 20, 30, and 70. If the first two estimates have equal weights, which total 70%, and the last two are weighted equally with the remaining 30%, what is the expected time?

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Chapter 12, Problem 2P

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There are four estimates made for the anticipated cycle time to produce a subcomponent. The estimates, in seconds, are 10, 20, 30, and 70. If the first two estimates have equal weights, which total 70%, and the last two are weighted equally with the remaining 30%, what is the expected time?

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