Problem 7-3 (Algo) A time study was conducted on a job that contains four elements. The observed times and performance ratings for six cycles are shown in the following table. OBSERVATIONS (minutes per cycle) Performance. Element Rating 1 2 3 4 5 6 1 80% 0.35 0.40 0.30 0.30 0.30 0.30 2 75 1.35 1.35 1.30 1.30 1.30 1.35 3 100 0.70 0.70 0.60 0.65 0.70 0.65 4 85 0.95 1.00 0.95 1.00 1.00 1.05 Click here for the Excel Data File a. Determine the average cycle time for each element. (Round your answers to 3 decimal places.) Element Average cycle 1 2 3 4