Final answer:
The formula for calculating the throughput time in a business context is explained with an example.
Step-by-step explanation:
The question is asking for the formula to calculate the throughput time in a business context. Throughput time is the total time it takes to complete a process or task, and it is calculated by adding the time spent on each step in the process. In the formula provided, the + symbols represent the individual steps or tasks that need to be included in the calculation.
For example, if we have four steps in a process: Step 1 takes 2 hours, Step 2 takes 3 hours, Step 3 takes 1 hour, and Step 4 takes 4 hours, then the formula for throughput time would be:
Throughput time = 2 hours + 3 hours + 1 hour + 4 hours = 10 hours