Identify the five steps of the work-sampling procedure

What will be an ideal response?

1. Take a preliminary sample to obtain an estimate of the parameter value (e.g., percent of time a worker is busy). 2. Compute the sample size required. 3 . Prepare a schedule for observing the worker at appropriate times. 4. Observe and record worker activities. 5. Determine how workers spend their time (usually as a percentage).

Business

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One reason that companies use the foreign-exchange market is to diversify their expenses from other sources

Indicate whether the statement is true or false

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Both the automobile workers union and the construction trade unions have experienced dramatic reductions in membership in recent years

Indicate whether the statement is true or false

Business