In Class Exercise - Cycle Time Efficiency Cycle Time Efficiency = Theoretical Cycle Time/Average Cycle Time Exercise 1: calculate the Cycle Time Efficiency for industries: Life Insurance, Hospital and Auto Manufacturer. Industry Process Cycle Time Efficiency Life Insurance Hospital Auto Manufacturer Average Cycle Time Theoretical Cycle Time 72 Hours 7 Minutes 10 Days 3 Hours 11 Days 5 Hours New Policy Patient Billing Financial Closing Exercise 2: The Traffic Court of King James County operated between the hours of 9:00am and 1:00pm. Each morning, 200 defendants show up for trial involving traffic violations, such as speeding, illegal parking, and ignoring a stop sign. On Monday June 10, 2012, a sample of 10 defendants was selected at random by a consultant. For each defendant, the consultant recorded the actual time spent in discussion with the judge and the time paying the fine (no waiting). Also recorded were the times the defendant arrived and left the court. The data is summarized in the table below. Defendant Arrival Departure 1 2 3 4 5 6 7 8 1.5 8:45 8:45 8:45 8:50 8:50 8:55 8:55 9:00 9:00 9:00 Time with Time Paying Judge (Minutes) Fine (Minutes) 1 5 1.5 2 2 3 5 1 2 1 0 2 2 0 1 2 1.5 3 9:30 9:45 12:05 12:55 10:35 9:20 11:35 10:45 12:55 9:20 9 10 a. What the erage Cycle Time? a. What is the Average Cycle Time? I b. Based on the 10 observations, what is the Theoretical Cycle Time? . Calculate the Cycle Time Efficiency. What is your assessment (efficient or not)? a. What is the Average Cycle Time? b. Based on the 10 observations, what is the Theoretical Cycle Time? c. Calculate the Cycle Time Efficiency. What is your assessment (efficient or not)