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A time study of a factory worker has revealed an average observed time of 3.20 minutes, with a standard deviation of 1.28 minutes. These figures were based on a sample of 45 observations.

Is this sample adequate in size for the firm to be 99% confident that the standard time is within {5% of the true value? If not, what should be the proper number of observations?

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Business Management, Management Studies

Category:- Business Management
Reference No.:- M92013379

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