Question: Peter Billington, a loan processor, has been timed performing four work elements, with the results shown in the following table. The allowance for tasks such

Peter Billington, a loan processor, has been timed performing four work elements, with the results shown in the following table. The allowance for tasks such as this is 20%. Accuracy is 5% and the confidence level is 94.5%. Observations (Minutes) Task Performance Rating (%) 2 3 Element 4 5 1 110 .4 2 95 .6 7 90 5 4 85 1.3 1.8 2.0 1.7 1.5 What is the standard time for the process

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