(5 marks) Question two: performance ratings for six cycles are shown in the following table: A time study was conducted on a job that contains four elements. The observed times and Elements Performance and Observations ( Minutes ) Rating ( % ) 1 7 6 2 4 3 5 1 100 1.50 1.50 1.54 1.47 1.49 1.51 1.52 2 95 1.45 1.24 1.30 1.55 1.25 1.60 1.40 3 120 1.00 1.40 1.20 1.35 1.30 1.20 1.10 4 100 2.10 2.14 2.08 2.20 2.16 2.26 2.00 Determine each of the following: The standard time, assuming an allowance factor of 15)percent of job time. b. How we can improve the standard time in this situation?. 8 1.40 1.35 1.24 2.30 a