Cycle time in manufacturing can be viewed as the total time it takes to complete
ID: 3152672 • Letter: C
Question
Cycle time in manufacturing can be viewed as the total time it takes to complete a product from the beginning of the production process. The concept of cycle time varies according to industry and product or service offered. Suppose a boat manufacturing company wants to estimate the mean cycle time it takes to produce a 16ft skiff. A random sample of such skiffs is taken, cycle times in hours are recorded for each skiff in the sample. The data are analyzed using Minitab, a well-known computer-based statistical software package. The results of the analysis are shown below in hours.
One-Sample T Test
N Mean StDev SE Mean 98% CI
26 25.41 5.34 1.05 (22.81, 28.01)
What is the point estimate for cycle time for 16ft skiffs?________________________________
How large a sample was used in this study? __________________________________________
What is the level of confidence for the findings?_______________________________________
What is the error value that was built into the confidence interval? _______________________
Explanation / Answer
A) POINT ESTIMATE = MEAN = 25.41
B) THE SAMPLE SIZE = 26
C) LEVEL OF CONFIDENCE = 98%
D) ERROR VALUE = MARGIN OF ERROR = 25.41 - 22.81 = 2.6
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