Cycle time in manufacturing can be viewed as the total time it takes to complete a product from the beginning of the production process. The concept of cycle time varies according to the industry and the product or service being offered. Suppose a boat manufacturing company wants to estimate the mean cycle time it takes to produce a 16-foot skiff. A random sample of such skiffs is taken, and the cycle times (in hours) are recorded for each skiff in the sample. The data are analyzed using Excel and the results are shown below in hours. What is the point estimate for cycle time? How large was the sample size? What is the level of confidence and what is the confidence interval? What is the margin of error of the confidence interval?

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A 1 2 Observations 3 Sample mean 4 Sample standard deviation 5 Margin of error Hours of Cycle Time B 26 25.4134 5.3369 2.601