Precision Machinery has set standard times for its field representatives to perform certain jobs. The standard time allowed for routine maintenance is 0.4 hours (i. e., "standard output"equals2.5 jobs per hour). One of Precision's field representatives records the results below. Calculate the rep's efficiency for each customer and her average efficiency.

Efficiency is given as follows:

Efficiency = (Actual Outputs/Standard Outputs) x 100%

Actual Output (Units per Hour) = 1/Actual Time per Unit

Standard Output (Units per Hour) = 1/Standard Time per Unit

Thus, the efficiency formula can be rewritten as follows:

Efficiency = (1/Actual Time Per Unit)/ (1/Standard Time Per Unit) X 100%

Efficiency = (Standard Time Per Unit)/ (Actual Time Per Unit) X 100%

For the Precision's field representative’s case,

Standard time = 0.4 hours per customer

For ABC Company Actual Time is 1.4:

E = 0.4/1.4 x 100% = 28.57%

For Preztel Actual Time is 0.7:

E = 0.4/0.7 x 100% = 57.14%

For SCR Industries Actual Time is 1.1:

E = 0.4/1.1 x 100% = 36.36%

For BeetleBob Actual Time 0.8:

E = 0.4/0.8 x 100% = 50%

engine assembler, survey reasearcher, auditor

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%