Question: Exercise 3: (9 marks) 1. A time study analyst wants to estimate the number of observations that will be needed to achieve a specified maximum

Exercise 3: (9 marks) 1. A time study analyst wants to estimate the number of observations that will be needed to achieve a specified maximum error, with a confidence of 80 percent. A preliminary study yielded a mean of 3 minutes and a standard deviation of 1 minutes. Determine the total number of observations needed for these two cases: a. A maximum error of 5 percent of the sample mean. b. A maximum error of 20 second. 2. The time study analyst timed the required cycles, and then computed the average time per cycle, which was 6 minutes. The analyst assigned a performance rating of 9, and decided that an appropriate allowance was 15 percent. Assume the allowance factor is based on the workday. Determine the following: the observed time (OT), the normal time (NT), and the standard time (ST)

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