After reading this article you will learn about:- 1. Meaning of Standard Data 2. Methods for Determining Standard Data 3. Uses 4. Advantages. Meaning of Standard Data: Generally large number of man hours is spent in setting the time standards by using stopwatch time study. Further management is anxious to have the time standards before the jobs are actually manufactured [...]
While an operator handles multi-machine to get the output, for an engineer it is quite important to know the economical number of machines to be allotted per operator. How the number of machines per operator can be found out without considering the factor of machine interference. The cost of operating number of machines by an operator can be calculated by [...]
After reading this article you will learn about the concept of probability and its application. Concept of Probability: The basic idea in the theory of probability is the law of large numbers. Probability concept states that certain mass phenomenon have a tendency towards regularity in behaviour i.e. if sample is drawn from the mass of universe (population) without any bias, [...]