The viscosity \( \mu \) can be calculated using the falling ball viscometer formula:
\[
\mu = \frac{2 r^2 (\rho_b - \rho_o) g t}{9 v}
\]
where:
- \( r = 0.34 \, \text{mm} = 0.34 \times 10^{-3} \, \text{m} \) is the radius of the ball,
- \( \rho_b = 2420 \, \text{kg/m}^3 \) is the density of the ball,
- \( \rho_o = 921 \, \text{kg/m}^3 \) is the density of the oil,
- \( g = 9.81 \, \text{m/s}^2 \) is the acceleration due to gravity,
- \( t = 44.5 \, \text{s} \) is the time taken by the ball to fall,
- \( v = 10 \, \text{cm} = 0.1 \, \text{m} \) is the length of the tube.
Substitute the values into the formula:
\[
\mu = \frac{2 \times (0.34 \times 10^{-3})^2 \times (2420 - 921) \times 9.81 \times 44.5}{9 \times 0.1}
\]
\[
\mu \approx \frac{2 \times 0.1156 \times 1499 \times 9.81 \times 44.5}{0.9} \approx 0.169 \, \text{Pa s}.
\]
Thus, the viscosity of the oil is approximately \( \boxed{0.172} \, \text{Pa s} \) (rounded to three decimal places).