What is the average time per unit required to complete the first 3 units of a production process if the first unit requires 3 hours and the learning curve has a slope parameter X = 0.75? Hint: time per unit = K * (unit number) raised to the nth power, where n = ln X/ ln 2. The nearest answer is: a. 1.58 hrs b. 1.81 hrs c. 2.02 hrs d. 2.23 hrs e. 2.38 hrs

What is the average time per unit required to complete the first 3 units of a production process if the first unit requires 3 hours and the learning curve has a slope parameter X = 0.75? Hint: time per unit = K * (unit number) raised to the nth power, where n = ln X/ ln 2. The nearest answer is: a. 1.58 hrs b. 1.81 hrs c. 2.02 hrs d. 2.23 hrs e. 2.38 hrs

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter5: Business And Economic Forecasting

Section: Chapter Questions

Problem 1.2CE: Plot the logarithm of arrivals for each transportation mode against time, all on the same graph....

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